SaltDAO $SALTY Token Announcement

  • Buyers are rewarded with $SALTY for purchasing SaltDAO products, proportionate to the value spent.
  • Creatives are rewarded with $SALTY for collaborating with SaltDAO to create new Salt Seasons, proportionate to the value sold.
  • OCO members are rewarded with $SALTY for performing work for SaltDAO, proportionate to the value of their contribution.

The SALTYverse

There are main three bodies which make up the Salt universe:

SaltDAO

SaltDAO is a decentralized autonomous organization. Anyone can become a member of SaltDAO by holding $SALTY. Members of SaltDAO are able to influence the direction of the project by voting with their $SALTY tokens through our governance platform.

Salt & Satoshi Off-Chain Operations (a.k.a “OCO”)

The OCO is made up of the individuals which manage all of the operations taking place off-chain in order for the project to function (development, logistics, supplier management, finances etc.).

Uyuni (a.k.a Uyuni Vault)

Uyuni, named after Salar de Uyuni — the world’s largest salt flat, is a multi-signature account safeguarding undistributed $SALTY and at this time is protected by members of the OCO.

SaltDAO

Who is SaltDAO?

SaltDAO is made up of buyers, creators, community members and the OCO. Each of them are rewarded $SALTY for performing different functions.

  • Buyers are rewarded with $SALTY proportionate to the value spent on items
  • Creators receive $SALTY proportionate to the value of items sold
  • OCO members receive $SALTY proportionate to the value of their contribution
  • Community receive $SALTY by being actively participating in the community

Membership Levels

There are 3 levels of membership in SaltDAO, each granted different rights and permissions based on the number of tokens held.

  • Enter SaltDAO member chat
  • Vote on governance proposals
  • Pink Salt+
  • Create governance proposals
  • Black Salt+
  • Sultan chat
  • Access to detailed insights from OCO

SaltDAO Governance

SaltDAO will use snapshot.page as a governance platform. As $SALTY holders, members of SaltDAO can make proposals and vote to determine which community proposals are granted and which are not. Any $SALTY holders can vote on proposals but you must be at least Black Salt to create new proposals. $SALTY holders could propose and vote on:

  • Creative & strategic partnerships
  • Artist collaborations for Salt Seasons
  • Platform features
  • Uses of treasury
  • Functions of the SaltDAO
  • Functions of $SALTY

$SALTY Allocation

$SALTY is divided into 5 Salt Piles. Each Salt Pile has been created to reward parties within the SaltDAO ecosystem who are necessary for its success. Though the allocation of $SALTY is fixed, after the Genesis Salt Season the rate at which tokens are distributed is decided on by SaltDAO from time to time. This would usually be at the start of a new Salt Season. The allocation to Salt Piles is as follows:

  • Buyers Salt Pile: 35% of $SALTY is reserved for Salt Season buyers who are rewarded with $SALTY for purchasing SaltDAO products, proportionate to the value spent.
  • Creatives Salt Pile: 10% of $SALTY is reserved for creatives who collaborate with SaltDAO to create new Salt Seasons, proportionate to the value sold.
  • OCO Salt Pile: 32.5% of $SALTY is reserved for members of the OCO who are rewarded with $SALTY for performing work for SaltDAO, proportionate to the value of their contribution.
  • TBD Salt Pile: 17.5% of $SALTY is reserved for use at the discretion of the SaltDAO.
  • Marketing & Community Establishment: 5% of $SALTY is reserved for early followers and telegram group members to induct them into SaltDAO and kickstart the community.
Allocation of $SALTY

$SALTY Distribution

The genesis distribution of tokens will be 5% of the $SALTY supply being used for Community Establishment and Marketing. This includes:

  • 23 322 $SALTY to the first 169 telegram members (amounting to one Pink Salt membership for themselves and one to share with a friend).
  • 8450 $SALTY to the 5 core team members (amounting to one Sultan SaltDAO membership each).
  • 2728 $SALTY will be used to reward community engagement using apps like unite.community and cctip.io.

Income, Budgeting and Surplus

The OCO will earn income from items sold. Income will cover commissions for creative artists, pay for recurring expenses and cover production costs. It is the intention of the OCO to keep it’s operations as lean as possible in order to maximize the value that can be recycled back into the SaltDAO ecosystem.

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Salt & Satoshi

Salt & Satoshi

Salt & Satoshi are the outfitters of the blockchain revolution & the home of Salt Seasons - NFT linked apparel. DM for collaborations.