Last Update: 28/08/2022
The initial supply of FVS tokens will be of 1 million tokens held by the founders who funded the initial operation of the Favos brand. 13% of these tokens will be distributed at our launch to early backers, customers, and the treasury as follows:
- People who contributed during the nascent stage of Favos: 3%
- Early Customers of XYZ Edition T-shirts: 9%
- Kickstart to Favos Treasury: 1%
After the sale of the XYZ Edition T-shirts, Favos will initiate a quarterly distribution of 40 thousand tokens. The distribution will occur after the end of each quarter and will target all customers in that period with a valid Ethereum address in their https://favos.xyz/ account profile. Also, 5% of these newly issued tokens will be redirected to the Favos treasury, with the finality of rewarding future collaborators for their contributions to the Favos DAO.
At this pace, in less than 20 quarters, the quantity of distributed tokens will surpass the amount of tokens initially allocated to the founders. We hope that by then, Favos will have a robust and highly engaged community capable of leading the future of the brand.
This distribution model has two important characteristics:
- Fixed amount issued per quarter, resulting in an ever-decreasing inflation of the token.
- The value of the distributed tokens per T-shirt will remain relatively stable: If the company increases the quantity of T-shirts sold per quarter, each T-shirt purchased will be rewarded with fewer tokens, however, these tokens will represent shares of a more valuable company.
This is our initial proposal, but we encourage anyone interested in the future of Favos, to discuss, improve or even propose new alternative models.
It is important to emphasize that Favos discourages secondary markets for the FVS token at the project’s current phase. While the project is extremely exciting and groundbreaking, it is also at its infancy and has its fair share of uncertainty. However, in the future, providing liquidity to the FVS token is a rational step towards the successful future of Favos.
1 Like
Given the initial operation of the operational entity and our better understanding of the market, I would like to propose new parameters for the previous proposed tokenomics.
Considering our current stock of around 1300 t-shirts we can arrive at a valuation of 320k BRL for the operation — this information is important to better understand the value of the equityback model.
I previously proposed the customers of the XYZ edition t-shirts to receive 9% of total tokens. This would result in an equityback valued around 19 BRL or 11% of the price (priced at 220 that should be approved soon) per t-shirt.
I would like to suggest the reduction to 6% of all tokens. This would result in an equityback valued at a little less than 13 BRL.
Summary of update proposal:
• People who contributed during the nascent stage of Favos: 3% (very early costumers and third-party service providers such as designers and moviemaker)
• Early Customers of XYZ Edition T-shirts: 6%
• Kickstart to Favos Treasury: 1%
I would also like to discard the rest of the previous proposal. Although the mechanism of quarterly issuance and distribution is to my liking, I think that the next months during the sale of XYZ edition t-shirts will be extremely valuable as an experience for the development of the equityback model for the subsequent periods. For this reason, I would postpone the voting of this part of the proposal.
As we pioneer the equityback concept we invite anyone interested to join us in this adventure. With time, we will gain more experience and perfect the model.
Change to the following:
Summary of update proposal:
• People who contributed during the nascent stage of Favos: 2.5% (very early costumers and third-party service providers such as designers and moviemaker)
• Early Customers of XYZ Edition T-shirts: 7.5%
• Kickstart to Favos Treasury: 5%
I would go with:
• People who contributed during the nascent stage of Favos: 2.5% (very early costumers and third-party service providers such as designers and moviemaker)
• Early Customers of XYZ Edition T-shirts: 7.5%
• Kickstart to Favos Treasury: 1%
Seems rather fair this way. will move it to voting now.