Hey friends, Max here
For about a month we’ve been discussing this working group internally and I’m happy to share now a brief status update with the community.
The key request i’m taking into the work is a token economics upgrade:
Improving utility and incentives for ecocredit origination
Functionally linking ecocredit value and volume living on Regen Ledger to the economic model of the REGEN token
Improving the network’s economic security & capacity
We had a public discussion about it on a recent news hour, check it out for more details below.
We will need new memes to go along with new tokenomics
Some organic meme metaphors we can include
if eth is the gas for the world computer, what does that make REGEN for the world eco state?
Staking regen as eco-direct action
LPing as creating more biodiversity
eco credits as the microbiology to make financial capital nutrients people soluble
Just a few ideas, but the closer we link regen tokenomics and the ecosystem to living ecosystems the more legacy regens we can attract and onboard into web3
In summary telling the story of the tech through strengthening the connection between community members as described by regen foundation
I’m wondering: do we need to create some kind of standing community space for this (say, a bi-weekly call), or does it seem like the existing calls (community calls every other Tuesday, and X Spaces every other Thursday), will suffice?
I would also love to hear from the community regarding nominations for signers for this DAO/working group.
Regarding inspiration: likely worth us taking a close look at Akash. They’re also built on the Cosmos SDK, and as far as I understanding, use the AKT token to pay for compute. It looks like their token has found a good product-market fit from what I’ve seen so far.
Thanks for heading this up, Max. And apologies for my slow reply, but I am definitely interested in this long-overdue conversation. How can I support it to continue to move?
I would like to comment on my high-level hopes for this work:
From my observations, if we continue with the current state, we have a slow decline of the value of the REGEN token to zero, but with a connection to the real-world value of the Regen Registry, Regen Marketplace, and a proper mix of other tokenomic strategies added in, we have the opportunity to reverse that trend.
This in turn leads to greater interest in Regen Network, the REGEN token, and the work we are all doing, which then enables all parties working within the Network to have more resources to implement their plans, and this creates a flywheel of sorts that catapults this community and the ecological impact behind it.
Ref; Tokenomics.
We need to walk the "Road to $1 "
Here are factors I’m sure there are many more. What would you add/subtract?
Macro web 3 influence (ETH Bitcoin Cosmos Osmosis) need to Rally again. The probability this will happen again is strong.
We need to demonstrate obvious utility. for example the data infrastructure to move from verified credits by 50 pages written by a PHD to real time all the time data. Real time data all the time streams coming off of an infrastructure of low cost sensors (in the water, in the air, in the ground), satellites (algorithms extracting indicators), and even autonomous vehicles with camera’s / sensors on top.
Include and transcend carbon credits but do it towards performance of outcomes (carbon cycle, nitrogen cycle, water quality, air quality, heat, health outcomes).
Experiment with urban GIS based bounties to increase self organizing local market teams.
Pay attention and link performance to market #'s (daily trades, weekly, monthly, quarterly dashboards) buyers and sellers on wholesale and retail fronts.
Restructure sales dpmt and/or strategy.
Continue to add Layer 1 deals across web 3 to go Carbon Positive (ie buy credits). accumulate AUM and a portfolio mix of company holdings (ETH, Bitcoin, Osmosis Cosmos, etc) earned and expanded by nature of the collaborative projects.
Consider a physical exchange and more of that UI experience. (what is your equivalent of ringing the NASDAQ bell and where do I go do that)?
Go where the people are. Hyperlocal USA credits is where my focus is. Winning there and in other blockchain placed based communities where folks can go kick the tires on projects is also novel (instead of it being in the other side of the world to them).: ie Climate Ac
It was presented here on the Commonwealth as well as on community calls, twitter space etc. Next stop – weekly REGEN Tokenomics Working Group calls on Tuesdays at 11:00am Eastern on Zoom, beginning in October to discuss the details and build in public. You can register here.
Finally, we’ve set up the fund as a DAF (donor-advised fund) in SDG Impact Fund. Biome Trust was the first to send $10k and we have Foundation, RND and Cerulean with the same commitments. We plan to engage $100k over a year. Here’s the budget for the first months, including my $2k fee for the work done so far in this quarter.
Please share your comments and questions,
Max, $REGEN Tokenomics working group steward.
We’ve done the first public sync call for the tokenomics working group, which will happen weekly further on. We had 13 people onboard and have discussed the following topics:
Check-in and introductions
Visions discussed over the retreat meetings (Aaron and Michael Z)
Minting and burning proposal (to be prepared for commonwealth soon)
This quarter we’re working on a paper (or a number of papers) on the $REGEN Economics Research which captures the tokenomics dynamics and current 2 focuses of discussion:
With this work we intend to find the best leverages to the token price and better decisions over tokenomics overall. You can track the actual tasks, documents and updates on the $REGEN Tokenomics Hub.
$REGEN Tokenomics Research – is getting a lot of updates recently, expect to publish the first article this year (but feel free to explore and comment on drafts). Slowly transferring into Tokenomics paper 2.0
Decreasing Inflation / Sales Pressure on the Token – The discussion on decreasing inflation involves considering the diversification of protocol funding and increasing the diversity of utility. Suggestions include allocating inflation to addresses provably engaged with network activities adding value beyond security and creating an eco-credit creator bonding mechanism.
Road to $1 – Read the doc and join the tokenomics sync on Dec 19 for the focused discussion.
WG Funding – we have received a big donation (~1M $REGEN, $83k at the time of writing)
Tokenomics Retreat – is probably happening around EthDenver (Feb 23 - Mar 3, 2024), but let us know if you have other suggestions
2024 Plans – drafting now ideas for the year. What is 1 great actionable goal we should take?
$REGEN Tokenomics Research – 1 of 4 chapters “$REGEN Investor Foresight” is out, it explores different worlds or scenarios where ecological activists might use Regen network. Based on this further “future checks” could be done for the decisions to be made
Regen Network analysis of collective value generation – request for comments. The task of drafting this brief stems from the concern of many stakeholders that current token pricing is reaching unsustainable points and reversing that trend is deemed an existential issue to secure network governance and security.
Easy way to buy $REGEN – appeared as a conversation on 1 on the calls, what comes to your mind?
We’ve received a donation of 1M Regen and decided to stake 80% to Commons Hub, 20% to P2P, (maybe moving to 40:40:20 with Notional once they’re back up). All serve as multisig stewards, difference is towards supporting smaller organisations.
– now inflation is closer to the market level and should decrease the pressure on the price of the token