5.1 Governance Structure
Inspired by Compound's governing principles, FireDAO creates a governance DAO for decision-making by the whole people, and this governance DAO is responsible for the governance and upgrade of the entire protocol. In contrast, FireDAO does not use the voting model of "one token, one vote" but creatively centers on the FireSoul account, combining the number and weight coefficient of different Soulbound tokens in the Soul Account, and thus ultimately creates the FID On-chain Reputation, using the score of FID On-chain Reputation as the voting weight of governance.
Topic: [ANN]🔥🔥FireDAO=Social DAO+DID+Web3 Identity+SBTs+SuperEconomy🔥🔥 - page 2. (Read 647 times)
Chapter Five: FireDAO Community Governance
FireDAO is a community-driven autonomous economy built by all community members, in pursuit of co-creation, co-governance and co-ownership! Having a sense of ownership, each community member is the real master of FireDAO and participates in the collective decision-making of the community in the form of referendum voting.
FireDAO issues governance token FDT. The holders of FDTs are the owners of the entire FireDAO community. However, unlike the governing principles of general DAOs, FireDAO carries out community governance activities centered on the FireSoul account. FireDAO will create a community governance DAO which will serve as the highest governance body of the entire FireDAO community.
Each official member of DAO has a soul account and is assigned an FID. Each FID has a "on-chain reputation" value. FireDAO is based on the value of on-chain reputation as voting right to participate in the community governance of the entire DAO. Community members without FID have no right to enjoy various rights within the FireDAO ecosystem, including but not limited to reward rights, dividend rights, voting rights, and the right to be elected.
The FireDAO community was initially governed by the RainbowCity Foundation in a centralized manner. The RainbowCity Foundation authorized the formation of a interim management team for the global community governance of FireDAO, which will be governed by the interim management team.
The FireDAO Global Community Interim Management Group is appointed by the RainbowCity Foundation. The chairman of the RainbowCity Foundation serves as the interim team leader and has a veto power over the proposals of the group. As the ecological development of FireDAO goes gradually on track, the authority of each administrator of the FireDAO protocol will be handed over to the community governance DAO one after another. The community governance DAO manages and governs, and makes decisions in the form of community referendums. FireDAO will gradually realize completely decentralized governance.
FireDAO is a community-driven autonomous economy built by all community members, in pursuit of co-creation, co-governance and co-ownership! Having a sense of ownership, each community member is the real master of FireDAO and participates in the collective decision-making of the community in the form of referendum voting.
FireDAO issues governance token FDT. The holders of FDTs are the owners of the entire FireDAO community. However, unlike the governing principles of general DAOs, FireDAO carries out community governance activities centered on the FireSoul account. FireDAO will create a community governance DAO which will serve as the highest governance body of the entire FireDAO community.
Each official member of DAO has a soul account and is assigned an FID. Each FID has a "on-chain reputation" value. FireDAO is based on the value of on-chain reputation as voting right to participate in the community governance of the entire DAO. Community members without FID have no right to enjoy various rights within the FireDAO ecosystem, including but not limited to reward rights, dividend rights, voting rights, and the right to be elected.
The FireDAO community was initially governed by the RainbowCity Foundation in a centralized manner. The RainbowCity Foundation authorized the formation of a interim management team for the global community governance of FireDAO, which will be governed by the interim management team.
The FireDAO Global Community Interim Management Group is appointed by the RainbowCity Foundation. The chairman of the RainbowCity Foundation serves as the interim team leader and has a veto power over the proposals of the group. As the ecological development of FireDAO goes gradually on track, the authority of each administrator of the FireDAO protocol will be handed over to the community governance DAO one after another. The community governance DAO manages and governs, and makes decisions in the form of community referendums. FireDAO will gradually realize completely decentralized governance.
The minting quantity of FD-SBT-001 is determined by the number and weight coefficient of FDTs during the lock-up. If 10,000 FDTs are locked, for example, the period for 3 months, and the weight coefficient is 3, then the minting amount is 30,000 FD-SBT-001s. If the lock-up matures and FDTs need to be withdrawn from the mining pool, the same proportion of FD-SBT-001s will be burned according to the proportion of withdrawal from the lock-up order. If the lock-up time ends and FDTs are not withdrawn from the lock-up pool, the original policy remains effective.
The minting quantity of FD-SBT-006 is determined by the number of FDTs and the weight coefficient during the FDTs lock-up. If 10,000 FDTs are locked for 3 months, and the weight coefficient is 3, then 30,000 FD- SBT-006s will be minted. If the lock-up matures and FDTs need to be withdrawn from the mining pool, the same proportion of FD-SBT-006 will be burned according to the proportion of FDTs withdrawal from the lock-up order. If the lock-up time ends and FDTs are not withdrawn from the lock-up pool, the FDTs original policy still remains effective.
The minting quantity of FD-SBT-006 is determined by the number of FDTs and the weight coefficient during the FDTs lock-up. If 10,000 FDTs are locked for 3 months, and the weight coefficient is 3, then 30,000 FD- SBT-006s will be minted. If the lock-up matures and FDTs need to be withdrawn from the mining pool, the same proportion of FD-SBT-006 will be burned according to the proportion of FDTs withdrawal from the lock-up order. If the lock-up time ends and FDTs are not withdrawn from the lock-up pool, the FDTs original policy still remains effective.
4.8 FDT Lock-up Mining
In order to motivate more long-term value investors, FireDAO will launch an FDT Lock-up Mining. Each community member can lock FDTs into the mining pool, assign different weight coefficients according to various lock-up period and can mine the incentive token FLMs. The obtained FLMs can be converted to FDTs, which will be released linearly within two years.
Different mining weight coefficients are determined by various lockup period. The longer the lock-up is, the higher the mining weight will be. The protocol relies on the number of FD-SBT-006 to implement specific mining reward policy.
During this lock-up, the protocol mints two SBTs : FD-SBT-001 and FD-SBT-006. FD-SBT-001 is mainly used to contain the FDT comprehensive position information of this Soul Account, and FD-SBT-006 is to contain the lock-up mining information for this Soul Account. The whole ecology distributes the ecological income according to the proportion of holding weight of the FD-SBT-001, and rewards the lock position mining according to the proportion of holding weight of the FD-SBT-006.
In order to motivate more long-term value investors, FireDAO will launch an FDT Lock-up Mining. Each community member can lock FDTs into the mining pool, assign different weight coefficients according to various lock-up period and can mine the incentive token FLMs. The obtained FLMs can be converted to FDTs, which will be released linearly within two years.
Different mining weight coefficients are determined by various lockup period. The longer the lock-up is, the higher the mining weight will be. The protocol relies on the number of FD-SBT-006 to implement specific mining reward policy.
During this lock-up, the protocol mints two SBTs : FD-SBT-001 and FD-SBT-006. FD-SBT-001 is mainly used to contain the FDT comprehensive position information of this Soul Account, and FD-SBT-006 is to contain the lock-up mining information for this Soul Account. The whole ecology distributes the ecological income according to the proportion of holding weight of the FD-SBT-001, and rewards the lock position mining according to the proportion of holding weight of the FD-SBT-006.
The amount of SBT-001 minted is determined by the number of FDTs contained in the LP and the weight coefficient when the LP is locked. If the LP contains 10,000 FDTs now, locked for 3 months, and the weight coefficient is 3, 30,000 SBT-001s will be minted. At the same time, since the amount of FDT contained in LP is constantly changing, if the lock-up period matures and LP needs to be withdrawn from the mining pool, the same proportion of SBT-001 will be burned according to the proportion of withdrawn LP. If the lock-up period matures and LP is not withdrawn from the lock-up mining pool, this order will continue to enjoy the benefits of the original policy.
The amount of minted SBT-005 is determined by the number of LPs and the weight system when LPs are locked. In the case of current lock-up, 1 LP can mint 1,000 SBT-005. If it is locked for 3 months and the weight factor is 3, 3,000 SBT-005 can be minted by depositing 1 LP. At the same time, if the lock-up period matures and LP needs to be withdrawn from the mining pool, the same proportion of SBT-005 will be burned based on the proportion of withdrawn LPs.
The amount of minted SBT-005 is determined by the number of LPs and the weight system when LPs are locked. In the case of current lock-up, 1 LP can mint 1,000 SBT-005. If it is locked for 3 months and the weight factor is 3, 3,000 SBT-005 can be minted by depositing 1 LP. At the same time, if the lock-up period matures and LP needs to be withdrawn from the mining pool, the same proportion of SBT-005 will be burned based on the proportion of withdrawn LPs.
4.7 FDT Liquidity LP Mining
In order to motivate more long-term value investors, FireDAO will launch a liquidity LP mining incentive for FDT. Each community member can lock the LP of FDT's main trading pair into the liquidity mining pool, and can mine the incentive token FLM. The obtained FLMs can be exchanged for FDT and unlocked linearly in two years.
Different mining weight coefficients are determined by the different lock-up periods. The longer the lock-up period, the higher the mining weight. The protocol relies on the number of minted soul-locked tokens SBT-005 to implement specific reward policies.
During this lock-up process, the protocol casts two kinds of SBTs: SBT-001 and SBT-005. SBT-001 is mainly used to record the FDT comprehensive position information of this soul account, and SBT-005 is mainly used to record the liquidity mining information of this soul account. The entire ecology distributes FDT ecological dividends according to the position weight ratio of SBT-001, and rewards liquidity mining according to the position weight ratio of SBT-005.
In order to motivate more long-term value investors, FireDAO will launch a liquidity LP mining incentive for FDT. Each community member can lock the LP of FDT's main trading pair into the liquidity mining pool, and can mine the incentive token FLM. The obtained FLMs can be exchanged for FDT and unlocked linearly in two years.
Different mining weight coefficients are determined by the different lock-up periods. The longer the lock-up period, the higher the mining weight. The protocol relies on the number of minted soul-locked tokens SBT-005 to implement specific reward policies.
During this lock-up process, the protocol casts two kinds of SBTs: SBT-001 and SBT-005. SBT-001 is mainly used to record the FDT comprehensive position information of this soul account, and SBT-005 is mainly used to record the liquidity mining information of this soul account. The entire ecology distributes FDT ecological dividends according to the position weight ratio of SBT-001, and rewards liquidity mining according to the position weight ratio of SBT-005.
4.6 FLM airdrop and rewards
In order to expand the FID Web3 identity system better and faster, the FireDAO ecosystem will conduct the most extensive airdrop in the history of Web3. The FireDAO official team will screen active wallet addresses on the chain, and at the same time issue various types of community activity medals SBB for active users in the entire crypto world to mint. For those users who have already minted the community activity medal SBB, the FireDAO community will conduct various types of free airdrops, airdropping FLMs to those active users.
The FLMs received by the airdrop can be exchanged for the governance token FDTs in the official exchange pool. The price of FDT is subject to the real-time price of the secondary market transactions. At the same time, the exchanged FDTs start to be unlocked at the speed of each block, and it will be released linearly within about two years.
To receive airdrops, you must have a PID. Without a PID, you cannot receive airdrops. After the FLMs in the airdrop pool have been claimed, you can continue to inject FLMs into the pool to ensure the continuity of the airdrop. When the FLMs in the airdrop pool are completely used up and no longer injected, those who have not received the airdrop will no longer be able to participate.
For more specific policies on FLM soul airdrops, please refer to the actual operation documents in the future.
In order to expand the FID Web3 identity system better and faster, the FireDAO ecosystem will conduct the most extensive airdrop in the history of Web3. The FireDAO official team will screen active wallet addresses on the chain, and at the same time issue various types of community activity medals SBB for active users in the entire crypto world to mint. For those users who have already minted the community activity medal SBB, the FireDAO community will conduct various types of free airdrops, airdropping FLMs to those active users.
The FLMs received by the airdrop can be exchanged for the governance token FDTs in the official exchange pool. The price of FDT is subject to the real-time price of the secondary market transactions. At the same time, the exchanged FDTs start to be unlocked at the speed of each block, and it will be released linearly within about two years.
To receive airdrops, you must have a PID. Without a PID, you cannot receive airdrops. After the FLMs in the airdrop pool have been claimed, you can continue to inject FLMs into the pool to ensure the continuity of the airdrop. When the FLMs in the airdrop pool are completely used up and no longer injected, those who have not received the airdrop will no longer be able to participate.
For more specific policies on FLM soul airdrops, please refer to the actual operation documents in the future.
4.5 FireDAO Ecology Forum
The mission of FireDAO is to provide fuel for the evolution of Bit Civilization, ignite the fire of civilization, pass on wisdom, and help ignite civilization. Therefore, promoting the evolution of Bit Civilization on a global scale will be our core work.
In order to promote in-depth communication in the Bitcoin community, Satoshi Nakamoto created the Bitcointalk forum. The Bitcointalk forum has thus become a holy place for exchanges in the Bitcoin community, and this has also become the biggest legacy by Satoshi Nakamoto to the Bitcoin community. In order to follow the footsteps of Satoshi Nakamoto, we created the FireDAO ecology forum as the most important base to promote the evolution of Bit Civilization.
Although the forum was born in the Web1.0 era, it is different from the fragmented information produced by Web2.0. The forum can generate and accumulate in-depth knowledge and content. Therefore, FireDAO chooses the forum as the most prominent base for global community members for in-depth communication. We also use the Bitcointalk forum's management system, which is a tribute to Satoshi Nakamoto.
Like the Bitcointalk forum, we will set Merit points and Activity points in the FireDAO forum as the criteria for evaluating community members. At the same time, we will also set up the FLM and FireSeed forum point system. Community members can obtain FLM and FireSeed rewards through the forum, and can exchange them with FLMs and FireSeeds on the chain. In this way, the contribution system of the entire community can be more complete and perfect.
The FireDAO forum member is not free to register, it can only be registered automatically by casting a PID. For more specific policies on the FireDAO global ecological forum, please refer to the actual operating documents of the forum.
The mission of FireDAO is to provide fuel for the evolution of Bit Civilization, ignite the fire of civilization, pass on wisdom, and help ignite civilization. Therefore, promoting the evolution of Bit Civilization on a global scale will be our core work.
In order to promote in-depth communication in the Bitcoin community, Satoshi Nakamoto created the Bitcointalk forum. The Bitcointalk forum has thus become a holy place for exchanges in the Bitcoin community, and this has also become the biggest legacy by Satoshi Nakamoto to the Bitcoin community. In order to follow the footsteps of Satoshi Nakamoto, we created the FireDAO ecology forum as the most important base to promote the evolution of Bit Civilization.
Although the forum was born in the Web1.0 era, it is different from the fragmented information produced by Web2.0. The forum can generate and accumulate in-depth knowledge and content. Therefore, FireDAO chooses the forum as the most prominent base for global community members for in-depth communication. We also use the Bitcointalk forum's management system, which is a tribute to Satoshi Nakamoto.
Like the Bitcointalk forum, we will set Merit points and Activity points in the FireDAO forum as the criteria for evaluating community members. At the same time, we will also set up the FLM and FireSeed forum point system. Community members can obtain FLM and FireSeed rewards through the forum, and can exchange them with FLMs and FireSeeds on the chain. In this way, the contribution system of the entire community can be more complete and perfect.
The FireDAO forum member is not free to register, it can only be registered automatically by casting a PID. For more specific policies on the FireDAO global ecological forum, please refer to the actual operating documents of the forum.
4.4 FireDAO Global Community Management System
In order to better create the FireDAO global community system and build the FireDAO global community ecology, we have built a FireDAO global community management system based on languages. Anyone can apply to create a global ecological community for FireDAO, and submit a proposal to the temporary management team of the FireDAO global community in the name of the ecological community, and apply for the community funds.
The FireDAO global community interim management group is appointed by the chairman of the RainbowCity Foundation, who serves as the interim team leader and has a veto power over the temporary group proposals. When the ecological development of FireDAO is gradually going on track, the authority of each administrator of the FireDAO protocol is successively transferred to the community governance DAO, which manages and governs, and makes decisions in the form of community referendums. FireDAO will ultimately realize fully decentralized governance.
The FireDAO global community system is initially divided into 16 languages, namely English, Chinese, Malay, Arabic, Russian, Japanese, Korean, German, Portuguese, French, Spanish, Indian languages, Indonesian, Italian, Filipino language and Turkish. We will set up exclusive discussion boards in the FireDAO forum for these 16 languages. If a community member's native language is not among these, he or she can also apply for an independent community in his own native language, as long as the overall assessment requirements can be met.
The FireDAO global community system is mainly composed of three types of media, namely WeChat group, QQ group and Telegram group. Anyone can build these three types of communities to serve the FireDAO global community and become the administrator of these communities. The ownership of the corresponding community belongs to the creator, but it is specially used to serve the FireDAO global community, and the FireDAO official team assigns the corresponding community number for global unified management.
The FireDAO global community management system is divided into two levels of management. The first level is dedicated to the community management personnel, who are mainly responsible for the daily management and maintenance of the corresponding community. Different numbers are allocated according to the level of the community, entitled to the corresponding level of contribution salary. The second level is the community management committee of the corresponding language, which is divided into two management levels, namely the interim management committee of the corresponding language community and the global official management committee of the corresponding language community.
For more specific policies on the FireDAO global community system, please refer to the follow-up special management documents.
In order to better create the FireDAO global community system and build the FireDAO global community ecology, we have built a FireDAO global community management system based on languages. Anyone can apply to create a global ecological community for FireDAO, and submit a proposal to the temporary management team of the FireDAO global community in the name of the ecological community, and apply for the community funds.
The FireDAO global community interim management group is appointed by the chairman of the RainbowCity Foundation, who serves as the interim team leader and has a veto power over the temporary group proposals. When the ecological development of FireDAO is gradually going on track, the authority of each administrator of the FireDAO protocol is successively transferred to the community governance DAO, which manages and governs, and makes decisions in the form of community referendums. FireDAO will ultimately realize fully decentralized governance.
The FireDAO global community system is initially divided into 16 languages, namely English, Chinese, Malay, Arabic, Russian, Japanese, Korean, German, Portuguese, French, Spanish, Indian languages, Indonesian, Italian, Filipino language and Turkish. We will set up exclusive discussion boards in the FireDAO forum for these 16 languages. If a community member's native language is not among these, he or she can also apply for an independent community in his own native language, as long as the overall assessment requirements can be met.
The FireDAO global community system is mainly composed of three types of media, namely WeChat group, QQ group and Telegram group. Anyone can build these three types of communities to serve the FireDAO global community and become the administrator of these communities. The ownership of the corresponding community belongs to the creator, but it is specially used to serve the FireDAO global community, and the FireDAO official team assigns the corresponding community number for global unified management.
The FireDAO global community management system is divided into two levels of management. The first level is dedicated to the community management personnel, who are mainly responsible for the daily management and maintenance of the corresponding community. Different numbers are allocated according to the level of the community, entitled to the corresponding level of contribution salary. The second level is the community management committee of the corresponding language, which is divided into two management levels, namely the interim management committee of the corresponding language community and the global official management committee of the corresponding language community.
For more specific policies on the FireDAO global community system, please refer to the follow-up special management documents.
4.3 FireDAO Citynode System
On regional levels, FireDAO will be built by various Citynodes.
In order to better link the on-chain identity and the off-chain life of community members, FireDAO has launched a Citynode system in particular. FireDAO Citynodes carry out various online and offline activities centered on cities. Anyone in the community who has more than 100,000 FID reputation scores can establish a Citynode, and each Soul Account can create one Citynode at most.
Those who meet the FID reputation scores requirement can first create a temporary Citynode. Anyone with a Soul Account FID can join this Citynode. Only when the node's total reputation scores reach 1 million can this Citynode be activated and finally officially created. Each Soul Account can join up to one Citynode. Anyone can choose to exit the Citynode afterwards and the Citynode creator can choose to kick a member out of the node.
The creator of the Citynode automatically becomes the Citynode administrator, and this administrator’s authority can be transferred. 10% of the income generated by the Citynode is owned by the administrator and the remaining 90% can be used by all node members through negotiation.
The FireDAO Ministry of Finance has a fixed income allocated to the Citynodes that have won the Citynode competition, which are the weekly, monthly and annual ranking reward respectively, rewarding the top 49 ranks.
On regional levels, FireDAO will be built by various Citynodes.
In order to better link the on-chain identity and the off-chain life of community members, FireDAO has launched a Citynode system in particular. FireDAO Citynodes carry out various online and offline activities centered on cities. Anyone in the community who has more than 100,000 FID reputation scores can establish a Citynode, and each Soul Account can create one Citynode at most.
Those who meet the FID reputation scores requirement can first create a temporary Citynode. Anyone with a Soul Account FID can join this Citynode. Only when the node's total reputation scores reach 1 million can this Citynode be activated and finally officially created. Each Soul Account can join up to one Citynode. Anyone can choose to exit the Citynode afterwards and the Citynode creator can choose to kick a member out of the node.
The creator of the Citynode automatically becomes the Citynode administrator, and this administrator’s authority can be transferred. 10% of the income generated by the Citynode is owned by the administrator and the remaining 90% can be used by all node members through negotiation.
The FireDAO Ministry of Finance has a fixed income allocated to the Citynodes that have won the Citynode competition, which are the weekly, monthly and annual ranking reward respectively, rewarding the top 49 ranks.
4.2 FireDAO Guild System
In terms of the overall function, FireDAO will be built by guilds.
In order to better promote the construction and expansion of FireDAO, we will build guilds with different functions from the overall structure level. Each guild assumes different responsibilities, being responsible for the overall operation and construction of DAO. Guilds are defined by the standard in FireDAO as talent pools, which are dedicated to bringing together people with specific talents. In nature, it is similar to different functional departments in a company.
Unlike Citynodes which do not require permission to join, community members need to apply to join different guilds. The preliminary review is the responsibility of the Team. As the guild develops to a certain stage, each guild will set up a special management committee that will be responsible for the guild management. Meanwhile, different guilds can apply to the DAO treasury for activity budgets, and members who contribute to the guild will also receive fixed or variable salary or incentives to maximize the enthusiasm and initiative of outstanding community members.
FireDAO will establish twelve guilds in the early stage of development, which will be adjusted according to the actual operation in the future. The twelve guilds are Finance Guild, Operations Guild, Investment Guild, Research Guild, Marketing Guild, Education Guild, Law Guild, Research & Development Guild, Design & Video Guild , Translation Guild, Data Analysis Guild, and Charity and Public Welfare Guild. These twelve guilds have different functions, and any community member with FID can apply to the relative guild to join. Every member who joins the guild will become a core contributor to FireDAO.
In terms of the overall function, FireDAO will be built by guilds.
In order to better promote the construction and expansion of FireDAO, we will build guilds with different functions from the overall structure level. Each guild assumes different responsibilities, being responsible for the overall operation and construction of DAO. Guilds are defined by the standard in FireDAO as talent pools, which are dedicated to bringing together people with specific talents. In nature, it is similar to different functional departments in a company.
Unlike Citynodes which do not require permission to join, community members need to apply to join different guilds. The preliminary review is the responsibility of the Team. As the guild develops to a certain stage, each guild will set up a special management committee that will be responsible for the guild management. Meanwhile, different guilds can apply to the DAO treasury for activity budgets, and members who contribute to the guild will also receive fixed or variable salary or incentives to maximize the enthusiasm and initiative of outstanding community members.
FireDAO will establish twelve guilds in the early stage of development, which will be adjusted according to the actual operation in the future. The twelve guilds are Finance Guild, Operations Guild, Investment Guild, Research Guild, Marketing Guild, Education Guild, Law Guild, Research & Development Guild, Design & Video Guild , Translation Guild, Data Analysis Guild, and Charity and Public Welfare Guild. These twelve guilds have different functions, and any community member with FID can apply to the relative guild to join. Every member who joins the guild will become a core contributor to FireDAO.
Chapter Four: FireDAO’s Operations and Architecture
4.1 FireSeed Invitation & Referral System
In order to better promote the establishment of the Web3 on-chain DID identity system, FireDAO particularly implements a referral reward system, and the referral relationships between different community members are confirmed by the transmission of FireSeed. When a wallet transfers 1 FireSeed to another wallet that has never had any FireSeed before, this wallet can become the referrer of the receiving wallet.In this way the referral relations are determined in the FireDAO ecosystem.
There are only three levels of referral rewards. Upwards are the first-level, second-level and third-level referrers; downwards are also three levels referrers. When an ecological activity generates income, the income will be rewarded to three-level referrers according to the proportion agreed in advance, and referrers on each level obtain different distribution weights.
4.1 FireSeed Invitation & Referral System
In order to better promote the establishment of the Web3 on-chain DID identity system, FireDAO particularly implements a referral reward system, and the referral relationships between different community members are confirmed by the transmission of FireSeed. When a wallet transfers 1 FireSeed to another wallet that has never had any FireSeed before, this wallet can become the referrer of the receiving wallet.In this way the referral relations are determined in the FireDAO ecosystem.
There are only three levels of referral rewards. Upwards are the first-level, second-level and third-level referrers; downwards are also three levels referrers. When an ecological activity generates income, the income will be rewarded to three-level referrers according to the proportion agreed in advance, and referrers on each level obtain different distribution weights.
3.7 FireDAO Ministry of Finance Revenue Distribution Ratio
Rainbow City Foundation is the initiator of FireDAO. Before the FDT is fully issued, the ecological income is managed by the Rainbow City Foundation and is not for ecological distribution. When the FDT is fully issued, the income of the FireDAO project handed over to the Treasury of the Rainbow City Foundation will be distributed according to the following principles.
Rainbow City Foundation is the initiator of FireDAO. Before the FDT is fully issued, the ecological income is managed by the Rainbow City Foundation and is not for ecological distribution. When the FDT is fully issued, the income of the FireDAO project handed over to the Treasury of the Rainbow City Foundation will be distributed according to the following principles.
3.6 FireDAO Ecosystem Revenue Sources and Distribution Ratio
3.3 FireDAO's SBT introduction
The FireDAO ecology is mainly divided into two types of soul-bound tokens: one is for seven soul-bound tokens SBTs with ERC20 as the main body, and the other is X kinds of community activity medals SBBs with NFT as the whole, which are cast in different forms. Together they form the soul of FireDAO's community members.
Seven soul-bound tokens SBTs: SBT-001, SBT-002, SBT-003, SBT-004, SBT-005, SBT-006, SBT-007, which respectively record the different community activity and statistics.
These seven SBTs all have applied the ERC20 token standard, and the issuance quantity is automatically minted and destroyed by the smart contract on the blockchain according to the different community activities of each official DAO member.
The FireDAO ecology is mainly based on these seven kinds of SBTs in the early stage. With the continuous development of the ecology, we will successively issue X kinds of community activity medals SBB with NFT as its main body, so that the entire crypto ecology can participate in the construction of FireDAO.
3.4 FDT Initial Issuance Plan
3.5 FLM Initial Issuance Plan
The FireDAO ecology is mainly divided into two types of soul-bound tokens: one is for seven soul-bound tokens SBTs with ERC20 as the main body, and the other is X kinds of community activity medals SBBs with NFT as the whole, which are cast in different forms. Together they form the soul of FireDAO's community members.
Seven soul-bound tokens SBTs: SBT-001, SBT-002, SBT-003, SBT-004, SBT-005, SBT-006, SBT-007, which respectively record the different community activity and statistics.
These seven SBTs all have applied the ERC20 token standard, and the issuance quantity is automatically minted and destroyed by the smart contract on the blockchain according to the different community activities of each official DAO member.
The FireDAO ecology is mainly based on these seven kinds of SBTs in the early stage. With the continuous development of the ecology, we will successively issue X kinds of community activity medals SBB with NFT as its main body, so that the entire crypto ecology can participate in the construction of FireDAO.
3.4 FDT Initial Issuance Plan
3.5 FLM Initial Issuance Plan
3.2 Soul-bound Account and FID Reputation System
FireSoul, token type: ERC721 extension, non-transferable, soul bound.
FireSoul is the soul account of FireDAO, which is minted from the identity token FireSeed. When a user casts a soul account, he can become an official member of FireDAO. Each soul account will be assigned a FID, which can generate the "on-chain reputation" of the soul account.
Each wallet can only mint one soul account to generate one FID, and this account is not transferable. This soul account records the information of different soul-bound tokens SBT owned by this wallet. Different SBTs have different weight coefficients. The comprehensive weight of a soul account is calculated by multiplying the number of SBT positions by the weight coefficient, and this comprehensive weight becomes the FID "on-chain reputation" score of the soul account. Calculate the voting rights of FireDAO based on the FID on-chain reputation score, and calculate the voting weight of each DAO member.
The FireSoul soul account can be upgraded through community governance in the form of a referendum, increase or decrease the types of soul-bound tokens SBT, adjust the weight coefficients of different soul-bound tokens SBT, and recalculate the on-chain reputation score of FID.
The soul account can be burned and destroyed, and the relationship with DAO will be cut off. When the account is burned, the SBT in the account will be burned as well. After the soul account is destroyed, a FireSeed needs to be re-burned to regenerate a soul account.
FireSoul, token type: ERC721 extension, non-transferable, soul bound.
FireSoul is the soul account of FireDAO, which is minted from the identity token FireSeed. When a user casts a soul account, he can become an official member of FireDAO. Each soul account will be assigned a FID, which can generate the "on-chain reputation" of the soul account.
Each wallet can only mint one soul account to generate one FID, and this account is not transferable. This soul account records the information of different soul-bound tokens SBT owned by this wallet. Different SBTs have different weight coefficients. The comprehensive weight of a soul account is calculated by multiplying the number of SBT positions by the weight coefficient, and this comprehensive weight becomes the FID "on-chain reputation" score of the soul account. Calculate the voting rights of FireDAO based on the FID on-chain reputation score, and calculate the voting weight of each DAO member.
The FireSoul soul account can be upgraded through community governance in the form of a referendum, increase or decrease the types of soul-bound tokens SBT, adjust the weight coefficients of different soul-bound tokens SBT, and recalculate the on-chain reputation score of FID.
The soul account can be burned and destroyed, and the relationship with DAO will be cut off. When the account is burned, the SBT in the account will be burned as well. After the soul account is destroyed, a FireSeed needs to be re-burned to regenerate a soul account.
Chapter 3: FireDAO Tokenomics
3.1 Three Ecosystem Tokens
FireDAO implements the "3+2+7+X" token economic model. In the early stage, there are more than 10 different types of tokens to maintain the operation and expansion of the entire on-chain economy.FireDAO can eventually become an on-chain super economy that operates automatically, continuously circulates, and practices the true encryption spirit, and will also become the original on-chain DID identity protocol of the entire Web3 world. "3" refers to three types of ecological tokens: FireDAO Ecological Governance Token, FDT, FireDAO Ecological Incentive Token, FLM and FireDAO Ecological Identity Token, FireSeed.
3.1 Three Ecosystem Tokens
FireDAO implements the "3+2+7+X" token economic model. In the early stage, there are more than 10 different types of tokens to maintain the operation and expansion of the entire on-chain economy.FireDAO can eventually become an on-chain super economy that operates automatically, continuously circulates, and practices the true encryption spirit, and will also become the original on-chain DID identity protocol of the entire Web3 world. "3" refers to three types of ecological tokens: FireDAO Ecological Governance Token, FDT, FireDAO Ecological Incentive Token, FLM and FireDAO Ecological Identity Token, FireSeed.
2.7
As the PID and FID identity systems of FireDAO develop to a certain stage, we will use the Web3 identity protocol as the base point to gradually expand to the following ecology, including but not limited to:
Decentralized domain name system based on PID and FID;
Unsecured or partially collateralized loan market based on on-chain reputation;
Activity medal system based on SBTs;
Social recovery system based on SBTs;
NFT soul issuance market based on SBTs;
DAO referendum system based on On-chain Reputation;
Soul airdrop for SBTs;
Diversified assets with SBTs as the main form, manuscripts, real estate, certificates, works of art, etc.
These will be the fields that FireDAO will continue to expand in the future. Together, we will realize the vision of DeSoc and BitCiv - a co-determined world. In this world, the souls can gather with the community from bottom to top, as each other's emerging attributes, and finally build a divers on-chain society together, which is also the Bit civilization we wanted to build.
As the PID and FID identity systems of FireDAO develop to a certain stage, we will use the Web3 identity protocol as the base point to gradually expand to the following ecology, including but not limited to:
Decentralized domain name system based on PID and FID;
Unsecured or partially collateralized loan market based on on-chain reputation;
Activity medal system based on SBTs;
Social recovery system based on SBTs;
NFT soul issuance market based on SBTs;
DAO referendum system based on On-chain Reputation;
Soul airdrop for SBTs;
Diversified assets with SBTs as the main form, manuscripts, real estate, certificates, works of art, etc.
These will be the fields that FireDAO will continue to expand in the future. Together, we will realize the vision of DeSoc and BitCiv - a co-determined world. In this world, the souls can gather with the community from bottom to top, as each other's emerging attributes, and finally build a divers on-chain society together, which is also the Bit civilization we wanted to build.
2.7 Ecosystem Extension
FireDAO is a social DAO based on PID and FID soul-bound accounts, and a community-driven on-chain autonomous economy. FireDAO takes the soul account as the center, combines different types of SBTs, calculates on-chain reputation scores, and finally builds a set of native DID identity protocols on the Web3 blockchain.
In the first step of FireDAO's ecological expansion, our core work is to create a DID identity system on the Web3 blockchain as complete as possible. We hope to reach 100,000 PIDs and 10,000 FIDs as soon as possible, which will make us one of the most influential DAO communities in the world.
As the number of our PID and FID continues to increase, our Web3 identity protocol will become the underlying infrastructure of the entire Web3 world. Regardless of whether it is inside or outside the FireDAO ecosystem, any crypto project can integrate our Web3 identity protocol, and integrate the members of the FireDAO community ecology with these Web3 products as quickly as possible to create a more transparent and more open Web3 ecosystem. This is also the scenario mentioned in the paper by Vitalik Buterin and other authors.
FireDAO is a social DAO based on PID and FID soul-bound accounts, and a community-driven on-chain autonomous economy. FireDAO takes the soul account as the center, combines different types of SBTs, calculates on-chain reputation scores, and finally builds a set of native DID identity protocols on the Web3 blockchain.
In the first step of FireDAO's ecological expansion, our core work is to create a DID identity system on the Web3 blockchain as complete as possible. We hope to reach 100,000 PIDs and 10,000 FIDs as soon as possible, which will make us one of the most influential DAO communities in the world.
As the number of our PID and FID continues to increase, our Web3 identity protocol will become the underlying infrastructure of the entire Web3 world. Regardless of whether it is inside or outside the FireDAO ecosystem, any crypto project can integrate our Web3 identity protocol, and integrate the members of the FireDAO community ecology with these Web3 products as quickly as possible to create a more transparent and more open Web3 ecosystem. This is also the scenario mentioned in the paper by Vitalik Buterin and other authors.
2.6 Community Activities
FireDAO is not only a Web3 DID identity system based on PID and FID, but also a community made up of leaders, creators, builders, believers and supporters who are deeply involved in cryptocurrencies. FireDAO is a social DAO and we believe that Web3 will change the world eventually. Therefore, strengthening the communication and interaction among community members is also our fundamental mission to launch FireDAO. We want to focus on PID and FID and then build a well-planned community of like-minded people. We hope to connect the on-chain identity and off-chain life of each community member by holding various types of activities, so that each community member can meet new people they won't meet anywhere else and foster interaction and friendship with one another.
In order to strengthen the communication and interaction between global community members and link the on-chain identity and off-chain life of each DAO member, we will carry out different types of activities online and offline: online, we will create Community Ecology Forum to facilitate in-depth communication between community members in different regions of the world; offline, we will focus on Citynodes carrying out various types of face-to-face activities to create different types of offline communication opportunities for global DAO members as many as possible, which is our intention of creating social DAO.
FireDAO is not only a Web3 DID identity system based on PID and FID, but also a community made up of leaders, creators, builders, believers and supporters who are deeply involved in cryptocurrencies. FireDAO is a social DAO and we believe that Web3 will change the world eventually. Therefore, strengthening the communication and interaction among community members is also our fundamental mission to launch FireDAO. We want to focus on PID and FID and then build a well-planned community of like-minded people. We hope to connect the on-chain identity and off-chain life of each community member by holding various types of activities, so that each community member can meet new people they won't meet anywhere else and foster interaction and friendship with one another.
In order to strengthen the communication and interaction between global community members and link the on-chain identity and off-chain life of each DAO member, we will carry out different types of activities online and offline: online, we will create Community Ecology Forum to facilitate in-depth communication between community members in different regions of the world; offline, we will focus on Citynodes carrying out various types of face-to-face activities to create different types of offline communication opportunities for global DAO members as many as possible, which is our intention of creating social DAO.
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