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Tokenomic

FavT is the token name in FavorDAO, which is the intermediary media for all commercial transactions and value exchanges in FavorDAO.

Token Allocation​

The total supply of FavT tokens in FavorDAO is 100 billion.

Investors Section​

The finance portion accounts for 30%, totaling 30 billion tokens, with

  • 10% of the total tokens, amounting to 10 billion tokens, are reserved for seed round investors.
  • 20% of the total tokens, amounting to 20 billion tokens, are allocated to A-round investors.

10% of the investor portion was released at the time of the IPO, and the remaining portion will be released at a rate of 5% per month for a total duration of 19 months.

Team and Advisors Section​

The team and advisors account for 30%, with

  • The advisors account for 10%, totaling 10 billion tokens.
  • The team accounts for 20%, totaling 20 billion tokens.

The team and advisor portion will be released at 3% after the first year, then 3% each month for a total of 34 months.

Liquidity Support​

Liquidity support is 10%, totaling 10 billion tokens.

50% will be released at the start, and the remaining portion will be decided by committee members through proposal discussions and voting.

Rewards Section​

The rewards portion is 30%, totaling 30 billion tokens, with

  • Airdrop rewards are 10%, totaling 10 billion tokens.
  • Resource providers are 10%, totaling 10 billion tokens.
  • Operators are 10%, totaling 10 billion tokens.

The airdrop rewards portion is based on the development cycle and functionality of the FavorDAO product. Airdrop rewards will be issued periodically according to the newly added features to encourage user testing. The amount of each reward will be determined by a proposal and vote from the committee.

The resource provider portion is a reward for service or broadband miners, which will begin when the main net is online. 3% of the total amount will be issued every month, and the operating profits of the FavorDAO system will be used as resources to continue to issue rewards after 33 months.

Operators are those who are rewarded for their involvement in the committee and content review. Rewards will start when the main net is online, with 3% of the total amount issued each month. After 33 months, the operating profits of the FavorDAO system will be used as resources to continue to issue rewards. The number of rewards to be issued after 33 months will be determined by a proposal initiated by the members of the committee and voted on for discussion.

Committee​

The DAO committee is an important role in the FavorDAO. When the community Builder stakes a certain token, they can become a candidate, and then the community members will vote for the candidates to handle matters requiring subjective judgment or professional knowledge and to supervise and evaluate the operation of the FavorDAO.

The specific functions and roles of the FavorDAO committee include the following:

  • Inspection and Supervision: The DAO committee can send out DAO inspection teams to supervise and evaluate the voting and execution of proposals by regional DAOs. For example, if there are problems such as cheating, abuse, and waste in the proposals of a certain regional DAO, the committee can intervene and punish.
  • Incentive Design: The DAO committee can issue incentive programs to attract more developers to join the ecosystem and develop products. For example, the committee can set up reward schemes such as bonuses, tokens, points, etc. to encourage developers to create more value for the DAO.
  • Community Building: The DAO committee can participate in the construction and operation of the proposal system and community media. For example, the committee can set up community rules, standards, processes, etc., and promote, educate, and communicate through community media.

In conclusion, the committee is an indispensable part of the operation of FavorDAO, which can ensure the effectiveness, fairness, and transparency of FavorDAO, and promote its prosperity and development. Members of the DAO Builder Stakeholder Committee will also be rewarded by the system.

Content Auditors​

Community users who stake a certain amount of tokens will become content moderators, and they will receive rewards from the system.

Content Review: Upon receiving user complaints, the system will match content moderators to make subjective decisions on the content, such as whether to block or retain certain sensitive or controversial content in the local area.

Appeal Processing: After the content is blocked, the creator can file a second appeal, and the system will match content moderators to make subjective decisions on the content to determine whether the content should be blocked or restored.

Airdrop​

Since FavorDAO is an actual application and the software is constantly being iterated, continuous user participation in testing or development is needed. Therefore, the system has reserved 10% of the tokens as airdrop rewards. This part of the airdrop can be used as:

  • The reward for participating in tests
  • The reward for raising bugs
  • The reward for providing feature suggestions
  • The reward for assisting in the development

Token Usage​

FavT is the native token on the FavorDAO platform, representing the rights and value of FavorDAO. FavT has multiple uses and functions in FavorDAO, it can not only be used as a payment method for commercial transactions, but also as a medium of value exchange. For example, users can pledge FavT to join or create a DAO; they can also earn or consume FavT by participating in various activities; they can also vote or propose to affect the distribution and governance of FavT.

In FavorDAO, all circulation is done using FavT tokens. For example:

  • When subscribing to content, consumers support FavT or stablecoins, and creators get FavT.
  • When selling goods or services, consumers and providers settle with fiat, stablecoins, or FavT, and providers need to pay FavT as GAS fees.
  • When participating in the management of the FavorDAO community, FavT needs to be pledged.
  • Resource providers get FavT as a reward.
  • When third parties use the resources in FavorDAO, they pay fiat, stablecoins, or FavT.