COMMUNITY TOKENOMICS PROPOSAL: An Open Letter

Thank you Brendan, this is a plan that everyone should get behind. I would encourage those with a voice and a vote to give the Andromeda team the 10 days requested.

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Hi Brenden and the Andromeda Team,

We greatly appreciate and respect the time, thought and due diligence that you have afforded our proposal and subsequent discussions- both here and in private.

Our greatest wish is to see the successful growth and adoption of aOS, and the best way to make that happen is for us all to work towards a common goal.

In light of your request, the co-signers of the Open Letter have all expressed their support to withdraw the proposal for the time being, allowing the team the 10 days that they have requested to present their new vision for the ecosystem moving forward.

We also ask that the other community members and validators that have supported this Open Letter proposal to likewise change their vote to “No” for now, so that the team are afforded the 10 days they have requested.

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Thank you to all. I see this as a great opportunity for us all to face the reality of the moment, the market, economy and what I call the physics of the business (resources and requirements). We’ll need your help for sure executing whatever evolves. Our keiretsu model was built on this concept of teamwork and coordination of capabilities into a whole of business solution. We know we are currently faced with key business decisions and appreciate the time to properly distill all of the assumptions in the proposal. Some were in serious considerations months ago awaiting key information or timing to assess alignment. This “10 day” period is a welcome forcing function for me as it is familiar execution pressure. After all of my recent conversations with our leaders in the past few days and this morning, I am confident that the Andromeda team is up for it. We are “back at it.”

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Update. We are 95% there with the Forum response. Final inputs, legal review, are all in work. Serious, business (people, market, token holder, ideas, and technology) thinking has gone into this response. As in all things, reducing literally years of assessments, thinking, designing, writing, and building work of all kinds, plus software development … into a succinct response is rewarding. Like all things in business, there is no magic pill, like the @JeffJohnson33 posted link in the Unofficial Telegram Channel, market emotion is moving much faster than white papers, tokenomics papers, software development. Like Bill Gates’ book “Business at the Speed of Thought” I am honored to be in this fast moving effort with our team and each of you. “Back at it”

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10 Day Response to the Original Proposal.

Dear Andromeda Community:

Thank you for your patience as we work through the process of considering broad scale changes to the Andromeda Tokenomics and project direction. As we’ve intimated previously, we are very appreciative of the Community’s interest in the ongoing vitality of the project. That said, we want to ensure that any changes made are fully compatible with the best balance of risks, rewards, business realities, an operating system’s network effects, the defragmentation of liquidity and blockspace, costs (financial and opportunity), and general resource management that this project must consider.

We have already taken steps toward greater chain maintenance and chain sustainment capabilities, but we want to offer our best judgment with regard to what will best ensure that the original vision of Andromeda and aOS are recognized and that the interests of all stakeholders are adequately served. Bear in mind, it is not our team’s place to dictate what happens with regard to on-chain governance (in fact, we do not have the ability to do so), but we believe that our team has the best understanding of how far aOS has come and the potential it has, as we are the operators on the front lines every day. In light of that, we hope you will take our proposal response into consideration.

Executive Summary of Proposal

  1. Accelerated unlocks/vesting for ANDR holders in the following particulars:

  2. Core Contributors vesting remains 24 months but begins January 1, 2024 (fully vested December 31, 2025) (currently locked until October 31,2024, with 24 month vesting thereafter).

  3. Pre-seed vesting reduced to 18 months beginning January 1, 2024 (fully vested June 30, 2025) (currently locked until October 31, 2024 with 24 month vesting thereafter).

  4. Team members other than Core Contributors vesting reduced to 12 months beginning January 1, 2024 (fully vested December 31, 2024) (currently locked until October 31, 2024 with 12 months vesting thereafter)

  5. Seed vesting reduced to 12 months beginning January 1, 2024 (fully vested December 31, 2024) (currently unlocked on April 30, 2024 with 24 months vesting thereafter).

  6. Validator SAFTs reduced to 12 months beginning January 1, 2024 (currently unlocked on April 30, 2024 with 24 months vesting thereafter).

  7. Validator Bootstrap vesting to remain 36 months, with the pro-rata portion of tokens vested as of the date of chain migration, if any.

  8. 250 million tokens from Community Pool earmarked for continued long-term strategic partnership acquisition by Team/sDAO (subject to Community approval; tokens not to be used for any other purpose).

  9. 3-month timeline to allow for continued attempts to secure acceptable arrangements.

  10. If allocation not used by end of 3 months, burn remaining tokens unless community determines to allow more time for strategic partnership efforts to continue.

  11. 50 million tokens from Community Pool set aside for ongoing burns upon achievement of business milestones.

  12. Augment public token staking pool with an additional 25 million ANDR from Community Pool.

  13. Establish criteria for activation of aOS economic engine, to consist of 30% month-over-month growth for a consecutive three-month period.

  14. Launch Homeward Bound sDAO with an approved charter to assess, negotiate and approve possible matches for token and/or chain migration.

  15. Homeward Bound sDAO to consist of select community members, validators, advisors, and team members, which will be identified in the charter.

  16. sDAO to be vested with broad discretion to identify and pursue potential matches within broad operational context, as set forth herein, with final recommendations submitted for community vote.

  17. sDAO will report to community writ large on at least a monthly basis with progress reports detailing efforts and developments, with as much detail as may fairly be provided without compromising ongoing negotiations.

  18. 3-month timeline to allow for attempts to identify potential suitors, at which time community shall revisit the issue to determine whether or not to continue seeking migration.

  19. Voluntary token burns of at least 11,450,000 ANDR (by Core Contributors and as previously pledged, along with any other token holder who wishes to participate in such a voluntary burn):

  20. Andromeda Core Contributors: 10,000,000 ANDR

  21. InnerMoon: 100,000 ANDR

  22. Outer Limits Validator: 50,000 ANDR

  23. Roundtable21 Advisory: 1,000,000 ANDR

  24. Roundtable21 Validator: 100,000 ANDR

  25. Siradi.io Validator: 50,000 ANDR

  26. WildSage Validator: 100,000 ANDR

  27. Wolftree Ventures: 50,000 ANDR

  28. Establish and commission additional sDAOs for ongoing operational purposes, with some funding provided by the Andromeda team, as detailed below.

  29. Provide transparent recalculation of circulating supply resulting from the numerous changes being made and a diligent review of current practices.

Detailed Proposal

  1. Accelerated Token Unlocks

At the outset, we have some concerns with accelerating unlocks at this juncture. While there is a case to be made for unlocking tokens ahead of schedule in order to solve for the low-circulating-supply problem, we have not seen empirical data to establish that a bulk unlock of this magnitude will not have an immediate and deleterious effect on the current token price. While it may be true that investors receiving unlocked tokens under this plan will be incentivized to hold them based on the current market price, it may not. We would also caution that far-reaching unlocks without an attendant burn and subsequent partnership contract chain migration (both of which proposals are unsettled and are discussed in detail below) may be more likely to result in realized market-based risk to token-holders.

However, if this is a move the Community supports, as indicated by the early voting on the prior proposal, we firmly believe there are some changes necessary to maintain an equitable arrangement among the token holders presently holding locked tokens. First, the existing dynamic (6-month delay in unlock) between the Pre-Seed Investors and Seed Investors should be maintained. In that regard, we propose the Pre-Seed Investors vesting schedule be reduced to 18 months, beginning as of January 1, 2024, with such tokens to be fully vested on June 30, 2025. In turn, the vesting period for Team members (other than Core Contributors), Seed Investors and Validator SAFTs would be reduced to 12 months beginning as of January 1, 2024, and become fully vested by December 31, 2024. Similarly, to maintain some parity with Investors, the Core Contributor’s tokens would remain on a 24-month vesting schedule, with accelerated unlocks beginning as of January 1, 2024, and be fully vested by December 31, 2025.

  1. Strategic Partnership Initiative (250 million ANDR)

When the Core Contributors, in conjunction with their advisors, designed the present ANDR tokenomics, they intentionally began with issuing the full one billion token supply. While there were several reasons for this, a key reason was so that the community pool would have an outsized supply to use for long-term strategic partnerships or other opportunities to expand the reach of aOS. To date, the team has been focused on building and delivering on the development side and the tokens have not been needed for that purpose. Now, in response to concerns about price, the Community has suggested that a large number of tokens need to be burned. Rather than taking this drastic option immediately, the team suggests that there first be a concerted effort to deploy these tokens in service of the purpose for which they were budgeted all along. If such effort proves unsuccessful, a bulk burn could be revisited as proposed by the Community, as mentioned in the Homeward Bound sDAO Section.

To execute this action item, the team proposes that 250 million tokens from the Community Pool be earmarked for long-term strategic partnerships, which tokens will likely be offered in large tranches to strategic partners for cross-chain-incentivization with other ecosystems, joint development projects, co-marketing of product implementations and the like. These tokens are to be used solely as enticement for other major chains to integrate and expand the Andromeda landscape, which partnership opportunities will be explored and executed by a purpose-driven sDAO commissioned specifically for this purpose – working title, the “SPI sDAO”. The SPI sDAO shall be managed by a committee consisting of one or more Andromeda Core Contributors, community members, advisors, and validators, with specific members to be determined. The SPI sDAO shall have three months to identify and propose the most advantageous partnerships possible with various other chains/organizations, with the chief aim being to exchange tokens for cooperation, integration, co-marketing, or other partnership functions. The sDAO shall have the authority to “commit” the 250 million ANDR as it deems most fit for the success of the project, but in a strategically reasonable manner – not merely “pay to play” developer grants. To be clear, the ANDR tokens earmarked for this purpose will remain in the Community Pool until such time as the community votes to ratify any proposed deal terms and to approve the transfer of such tokens, which may include terms surrounding locking and vesting. At the end of three months, the SPI sDAO shall report back to the community forum with a detailed summary of what it has accomplished and what progress is currently in process. At that time, if there remain allocated tokens that are uncommitted to new partnerships and it seems advisable to the community based on the SPI sDAO report, the remaining uncommitted tokens would be burned.

This proposal represents a different philosophy than merely addressing the perceived deficiencies of a “low float, high FDV” model. Instead, it targets ecosystem growth and rapid adoption through strategic partnerships that benefit aOS as a whole, without abandoning the opportunity to leverage community tokens rather than simply burning them. Increased growth and adoption should also lead to better price action, but this initiative is meant to reach past mere token price action to measurable network effects and increased vitality of aOS itself. We believe it represents a good balance between executing on the original planned use for the community tokens and decreasing supply if that use ends up being a non-starter.

  1. Milestone Burns (50 million ANDR)

The team is in agreement with the community suggestion that burning tokens upon the occurrence of certain milestones, such as ADO creation, chain integrations, strategic partnerships, or the like, would be advantageous to the project. As such, we propose setting aside 50 million ANDR into an sDAO for this purpose. As with the Homeward Bound sDAO and the SPI sDAO, the EcoSystem Fund sDAO (Charter to be published) will manage these burns in denominations it deems appropriate. The number of tokens to be burned will not be advertised ahead of time to the public, but will generally be proportional to the ecosystem value of the milestone for which the burn is designated.

  1. Augment Staking Pool

As suggested by Token Burner, and specifically in conjunction with the substantial number of tokens that would be unlocked and entering circulating supply under this proposal, we agree that additional tokens are to be earmarked for funding staking rewards. While a public “Staking Rewards Pool” already exists (see “rewards_dripper” here), we propose adding 25 million ANDR to this pool from the Community Pool. Additional infusions may be made in the future, according to governance proposals. We further recognize that changes to the emissions rate will likely be necessitated as newly unlocked tokens are staked, but these changes will need to be made through additional governance proposals as these numbers change.

  1. Economic Engine Ignition

aOS has been live for several months now, and builders have been building throughout that time. However, to date, there have not been, nor will there be, any chain fees or aOS platform fees generated because the “economic engine” of aOS has not yet been started. This is intentional. The team believes it is important to build up some momentum before switching aOS from a “freemium” to a paid model, such that when the engine does start, developers are able to realize non-trivial returns for their work and users will have had a chance to recognize the value of aOS and be willing to pay the modest fees associated with using it. In light of this, the community proposal to burn chain fees and platform fees – while not objectionable to the team – is simply not appropriate at the current time. Certainly, this is an approach that can be considered in the future if advisable.

Notwithstanding that these burns cannot occur in the present context, the team wants to commit to a transparent course of action with regard to the “when” of igniting the economic engine. We propose this occur at such time as there has been 30% month-over-month growth in usage for three consecutive months. If the community desires to burn the first few months of fees generated when that milestone is met, we are open to the idea, but we believe it would be prudent to wait and see where things stand at that point in time and act only if advisable under then-current conditions.

  1. Migration Exploration

The community has proposed, as part of its sweeping suggestions, that a chain migration occur in conjunction with their requested token burns. We believe this is an idea that deserves serious and careful consideration, as it represents a major shift in strategy and will require a significant amount of committed resources to enact such a change. In light of that, the team and Core Contributors, previous to the Forum proposal (aOS integration with Landslide-Avalanche, and Injective) have already begun detailed discussions around this possibility and have begun to reach out to contacts with other chains to explore the possibilities. In a commitment to expanding upon those efforts, we propose that a sub-DAO be established (the “Homeward Bound sDAO”) to fully assess the viability and desirability of a token or chain migration. The Homeward Bound sDAO will be led by a committee appointed by the community, consisting of one or more Andromeda team members (Core Contributors), community members, advisors, and validators, with such individuals to be identified and mutually agreed upon. The Homeward Bound sDAO will assess the technological feasibility of a migration, consider all potential modes and varieties of a potential migration, and identify and communicate with potential home chains, evaluating each in terms of their usage, transactions, community involvement, developer numbers, willingness to support the aOS technical stack, availability of grants, and any other factors deemed relevant in analyzing this potential course of action.

This Homeward Bound sDAO shall be commissioned for a period of three months and have broad discretion to identify and pursue potential matches within this broad operational context. During this time period, the Homeward Bound sDAO shall report to the community forum on at least a monthly basis with progress reports detailing its efforts and developments in the process, with as much detail as may fairly be provided without compromising ongoing negotiations or leverage positions. At the end of three-month period (or earlier, if appropriate) the Homeward Bound sDAO shall submit its final recommendations for community vote, at which time the community shall decide whether or not to engage in the proposed migration or, if no acceptable migration partners are identified, whether or not to continue seeking migration opportunities.

  1. Voluntary Token Burns

As a show of good faith, the Andromeda Core Contributors agree to join with the community members who have pledged voluntary burns and to burn 10,000,000 ANDR on a voluntary basis. Additionally, the Andromeda Core Contributors are in the process of visiting with Pre-Seed Investors, Seed Investors, team members, advisors, and others, to determine whether any other parties will agree to participate in a voluntary burn of their own tokens.

  1. Andromeda Core Contributors: 10,000,000 ANDR

  2. InnerMoon: 100,000 ANDR

  3. Outer Limits Validator: 50,000 ANDR

  4. Roundtable21 Advisory: 1,000,000 ANDR

  5. Roundtable21 Validator: 100,000 ANDR

  6. Siradi.io Validator: 50,000 ANDR

  7. WildSage Validator: 100,000 ANDR

  8. Wolftree Ventures: 50,000 ANDR

  9. _________________: ________ ANDR

  10. Community-Led Growth

Finally, the Andromeda Core Contributors propose to enter into a new phase of decentralized project management through the deployment of several SubDAOs, each of which may include current team members, but all of which will be responsible to the Community, in accordance with their respective Charters, to execute certain functions within the broader ecosystem. The goal of Andromeda from its outset has always been to achieve a progressively-decentralized, community-led project in which all stakeholders have a voice. The present conversation has demonstrated that there is already a great deal of decentralized control through the Community’s ability to effect governance decisions. With the rollout of a more robust and active SubDAO organizational structure, the Andromeda Core Contributors intend to take a significant step forward in realizing that vision.

As proposed above, the first two SubDAOs would each be limited to a temporary function. We envision implementing other SubDAOs to perform more permanent functions, beginning with a dedicated Developer Relations SubDAO (the “DevRel sDAO”) to pursue appropriate messaging to the developer community related to aOS. For each of these emergent SubDAOs, Andromeda commits to provide an infusion of USDC to fund operations for the stated purpose. Further, promptly following this proposal, Andromeda will release the Charters set up for each SubDAO, including the individuals or entities charged with execution of the SubDAO’s mission and purpose, for consideration and approval by the Community.

  1. Increased Market Transparency

In addition to serving the goals and initiatives discussed in this proposal, it is of the utmost importance to the team to rebuild trust and transparency with the community moving forward. One area in which there have been several questions over the past months is whether the reported circulating supply is an accurate measure of the ANDR tokens in circulation. While we believe the number to have been calculated accurately, the changes discussed herein provide a prime opportunity to revisit this issue and ensure the number of tokens reported as circulating fully encompasses the general market definition of the number of tokens available for trading in the public. This is a small measure, but an important step toward providing the transparency the community deserves.

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there is a lot to take in here.

could we please have this split up so that each proposal has its own space? some of these points will require debate.

i’m sure many would argue that accelerated vesting is the opposite of what we want. a sudden massive increase of tokens benefits only recipients of tokens while later buyers get the short straw.

people could come to an agreement quickly on other points.

All in all, pretty good proposal.

BUT, the chart and community sentiment are sagging more than a 70 year-old wet nurse, so let’s unlock 70 million tokens for the founders this year!? I’m all for entrepreneurs getting paid, but this volume of tokens is staggering even with the other proposed unlocks. Surely the team has to realise that current sentiment makes accelerated team unlocks appear dubious. What is the end game?

I understand the team has some hesitance around any sort of unlocks, and I appreciate that. I can see both sides really, but I think these proposals are both putting the cart in front of the horse in some respects. Is the current tokenomics plan/schedule broken or is the project just lagging on the performance side? If the former, great, let’s fix it. If the latter, what is being done to address the problems and how can the community be a part of helping?

I like your thinking. You pose a serious question. Are the tokenomics/schedule broken? Did the market fashion of low float/hi FDV foul the design?

Secondly, our entire business model is based on community help and economic incentives. We definitely want to encourage help in aOS/ADO development, it is our most passionate belief.

I think we are getting to first principle thinking here.

As we said, any unlocks at this stage to increase the float don’t seem like THE answer. Maybe an answer. From what I get DM and public, unlocks are emotional from all categories of locked token holders.

I appreciate your note.

Hi SunTzu and the Andromeda Team,

Given that all changes to the tokenomics are directly contingent on the terms that can be reached in Homeward Bound sDAO’s negotiations with a new home chain, we would propose the following compromise:

  1. Proceeding with the Migration Exploration (Homeward Bound sDAO) as outlined

  2. Augment Staking Pool with 25mil ANDR as outlined (as the staking rewards are almost empty)

  3. To serve as both a KPI benchmark and to avoid the perception of any impropriety, Core Contributors vesting should remain on hold until either the Home Chain migration negotiations are complete or the 3-month Homeward Bound sDAO window expires.

  4. Per feedback received from others, all other changes should remain on hold until either a new Home Chain deal can be reached or the 3-Month Homeward Bound sDAO term expires.

Realistically, a chain migration means a token reissuance, and a token reissuance means the Andromeda Core Contributors and Community can begin discussing ground-up tokenomics reform for the new ecosystem - tailored around the particulars of the new Home Chain and the deal on offer.

Against that backdrop, simply accelerating Core Contributor vesting while providing another 25% of the supply (17.5% → 42.5% of supply) to more Sub DAOs seems unwise, unpalatable, and unproductive.

In short - lets focus on the chain migration (unknown unknown) then focus on the tokenomics/economics engine/burns/unlocks (known unknowns).

who’s going to pay for a chain migration?

Thank you TokenBurner, well received. We’ll revert soonest.

TokenBurner and Community,
We see the wisdom in considering these proposals in stages, rather than all at once, and are in favor of forming the Homeward Bound sDAO to formally begin exploration of a potential chain migration. Just as with Cody proposing the reward pool funding, we will be putting forth a proposal for the community to formally weigh in on that idea. Thank you for your patience.

Dear Community,

Thank you for your patience as we developed a Homeward Bound sDAO signaling proposal for your consideration.

  1. Charter Background

Blockchain and crypto are still a new and rapidly changing technology. Industry-wide business model innovation and proven sustainable viability are yet to be determined. As the crypto industry prepares for another bull market, we acknowledge that market sentiment has changed significantly from Andromeda Founding, White, and Tokenomics Paper publications. Enterprise adoption of blockchain and crypto is showing signs of mainstream usage, followed by regulatory ETF approvals, both Party’s Presidential campaigns’ recognition of the crypto industry and investor, analyst, and retail sentiment continue to seek trustworthy and stable projects and conditions.

Following similar historical business market trends, as technology evolves and proves usefulness through business model innovation, market forces influence industries toward consolidation around proven, stable, and predictable value creation models.

Currently, the crypto industry requires four critical elements for a public project to survive and thrive:

  1. Community Trust
  2. A sustainable business model (PMF/Adoption)
  3. Large enough usage to power, business mode, growth, and scale
  4. Unique value creation

Community.

Unfortunately, Andromeda community trust is low and trending lower. Through the deployment of sDAO structures, answerable to the Community on matters of public concern, the authors hope to reignite a sense of shared community purpose and trust.

Business Model.

PMF has not been established, and mainstream adoption has not occurred, yet technological development has been moving steadily forward toward these goals. The current tokenomics model may require adjustment to align with technology adoption, market acceptance, sentiment trends and economic viability. Continued development, coupled with a potential migration, will be informative as to the necessity and extent of such changes.

Usage.

Although aOS is integrated with 12 Cosmos chains, usage is low, pre-revenue, and has not yet proven its “open source driven” innovation thesis.

Unique Value Creation.

Historically, once proven and adopted (like Microsoft Windows did with their forced mainstream adoption IBM OEM distribution model that saturated a large market (with “just good enough software”), operating systems can prove to be the turning point in defining explosive market alignment and growth. We believe that aOS, within the “optimum market environment”, has the potential to be that catalyst for Web3.

There are a few L1 projects (using the Microsoft example) that, although relatively young in a business sense, are leading industry product-to-market fit (PMF), vibrant communities, developer activity, and adequate economic activity candidates that might provide the needed environment for aOS to be the next operating system to unify a new industry.

Amid this shifting landscape, the Andromeda Community has proposed that a migration to a new home chain might best capture the emerging opportunities to meet the foregoing challenges. It is in this context that this sub-DAO is being formed for the purpose of exploring the feasibility of the same.

  1. Purpose & Objectives

The purpose of the Homeward Bound sDAO is to discover, analyze, and explore “optimum market” business market opportunities for migrating the ANDR chain to other L1 chains to provide the best opportunity for aOS to prove the stated full capability of the first Web3 operating system. In doing so, the sDAO will assess the business and technological feasibility of a migration, consider all potential modes and varieties of a potential migration, and identify and communicate with potential home chains, evaluating each in terms of their business vision, cultural compatibility, usage, transactions, community involvement, developer numbers, willingness to support the aOS technical stack, availability of grants/strategic investment, and any other factors deemed relevant in analyzing this potential course of action.

The sDAO’s objective is to approach this potential transition thoughtfully, requiring possible financial backing from a new host chain, however, it would present several significant advantages for ANDR Holders:

  • Funding:. supplemental grant or strategic investment
  • Cost Efficiency: Reduction in operational expenses and bandwidth requirements for the core team, extending project viability.
  • Enhanced Tokenomics: Elimination of the need for validators decreases network costs and enhances flexibility.
  • Improved Security: Maintenance of chain security by the dedicated development team of the new host chain.
  • Development Efficiency: Streamlined development focus exclusively on aOS, facilitating faster implementation of planned features like sANDR.
  • Liquidity Opportunities: Access to an enhanced liquidity environment through a DEX on the new host chain.
  • Marketing and Financial Support: Potential partnerships with a “new host chain” offer marketing exposure and financial backing to support the project’s valuation and sustainability.

While some intermediate technical steps may be necessary, these considerations would be addressed by key contributors to the chain.

Summary of Proposed Home Chain Transition:

  • Continue/Initiate discussions/tender process for migrating aOS from Andromeda Chain to a new Host Chain within or outside of the Cosmos Ecosystem.
  • Potential partners could include Injective, Neutron, Solana, Celestia, and THORchain, among others. Examples of similar transitions include Mars to Injective and Kujira to THORchain.
  • Following migration, the Andromeda chain would be archived and discontinued.
  • Validator services would not be required, with staking activities transitioning to the host chain

This sDAO shall be formed effective October 15, 2024, and shall expire by its terms on January 15, 2025, unless it is extended by majority vote of the Andromeda Community.

  1. Responsibilities

The primary responsibilities of this sDAO are to determine whether there are any viable options for Andromeda and aOS to migrate to a new home chain, inform the community of its findings and, if appropriate, make a recommendation to the community as to the best option moving forward. Subject to and in service of these primary responsibility, the sDAO shall be responsible to undertake examination and analysis of a variety of potential “homes,” to include, without limitation, Injective, Solana, Thorchain, Celestia, Neutron, and others; to determine technical and financial viability for each potential home chain; to seek to build coalitions where appropriate with key leaders or executives at viable chains; to negotiate terms favorable to Andromeda, the Community, and the future vitality of aOS with such viable chains; to report back to the Community with options and recommendations for next steps.

The sDAO shall report to the Community at large on at least a monthly basis, and should provide more frequent updates as new information develops or options materialize. The sDAO may, at its option, elect officers or designate specific members for different purposes necessary or advantageous to executing the duties and responsibilities set forth in this Charter.

  1. Membership and Governance

The number of members of this sDAO shall initially be seven (7) and shall thereafter always be an odd number. Subject to approval of this Charter, the Homeward Bound sDAO will be initially led by a committee consisting of the following: Brendan Cooper and Mant Hawkins, Core Contributors, Joe Clemko and Nic Norton, Legal, Svansy, Community Member, and FauxFire, Advisor. The seventh member shall be chosen and voted upon by a minimum of a ⅔ affirmative vote of the initial members.

Given the short time frame during which this sDAO is to be in operation, it is not anticipated that appointment of additional members will be necessary. However, in the event any member withdraws from this role or the Community wishes to add or substitute members, such members shall be nominated and voted upon by the Andromeda Community through a simple signaling proposal and shall only be chosen from among Andromeda team members, community members, advisors, and validators, with such individuals to be identified in the given signaling proposal. In order for new members to be added to this sDAO, an affirmative vote of a simple majority of the Community shall be required. Potential members should include strong business or tech understanding (both is preferred), legal perspective, solid/demonstrable connections to potential home chains, or experience with other migrations.

Any member may resign/withdraw from membership at any time. Members may also be removed by the council at-large, upon at least a ⅔ vote of the remaining members, which vote shall be proposed in the manner set forth below.

  1. Voting Mechanisms

Each member of the sDAO council shall have one vote, which vote shall be weighted equally with the votes of every other council member. No member may, at any time, grant any right of proxy or otherwise assign his or her vote to another member. Any member may put an item up for a vote to the entire council at any time, with the timeframe specified for casting votes in such proposal, which time frame shall be no less than 24 hours unless held in a formal meeting at which a quorum (defined as at least 70% of all sDAO members) is present and available for a live vote. In the event of a vote proposal that is not live, no action shall be taken and the results shall be deemed inconclusive unless at least 70% of the sDAO members cast a vote during the voting period. All votes within the Homeward Bound sDAO shall be decided by a simple majority vote.

In the event the sDAO council is unable to reach a simple majority consensus with regard to which recommendations to advance to the Community, the sDAO shall still make its report, along with all viable options, to the Community and may, at the individual members’ option, designate which options were preferable to each member.

  1. Funding & Treasury

The Homeward Bound sDAO will be funded via a contribution of 30,000 USDC from Andromeda, with such funds to be used for travel-related expenses necessary to facilitate discussions and negotiations with potential home chains. These funds may also be used for other expenses related to the purpose of this sDAO, if approved by majority vote of the sDAO council. Funds for the sDAO shall be retained in a multi-signature wallet requiring at least three sDAO council members to sign any transactions. At the expiration of the sDAO term, unless such term is extended by Community vote, any unused funds will be returned to Andromeda.

  1. Conflict Resolution & Dispute Handling

Disputes between the members of the sDAO will be resolved internally according to the regular voting procedures set forth herein. In the event resolution is impossible under such rules, any disputes may be submitted to the Andromeda Community for resolution by the then-current voting mechanisms in force there.

  1. Amendments & Updates

This Charter may be amended or updated only: (1) by majority vote of the sDAO members, confirmed by majority Community DAO vote, or (2) by 75% Community DAO vote.

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Dear Community,
Our chain development team is currently in the process of implementing an ANDR chain upgrade due for completion next Wed. To avoid any overlapping risk, we’ll post the above for vote once the chain upgrade is confirmed complete.
Back at it!

Excuse the ignorance, but if we are in the INJ/ANDR LP on Mito should we unbond? I’ve asked on Telegram if rewards will be brought back but no answer. The update posted 11 days ago said community trust is low and trending lower, I would expect someone from the team can just come out and say if the LP is dead. I know my investment in it is, I’m down over 85% in the LP and the rest being staked is down almost 95%. Had it been clear LP rewards weren’t returning I wouldn’t have lost as much. I really want to support this project but if investors and liquidity providers are ignored I find it difficult to stick it out with the last few dollars I have.

So, what does this proposal mean for us in LPs and staking?

Answered on Telegram yesterday.

Proposal Vote is open. Ping Dashboard - Cosmos Blockchain Explorer And Web Wallet

Proposal passed and the first Homeward Bound sDAO meeting is this morning.

Homeward Bound SDAO (HBsD)

1st Monthly Report November 2024

  • In accordance with the Andromeda Community Vote, the following is provided:

  • HBsD Membership stand-up

  • HBsD Mandate Review

  • Regular weekly Meeting Schedules established

  • Membership Introductions

  • aOS capabilities review

  • Members agreed to a first L1 Migration Targets

    • Solana, Base, Injective, Avalanche, THORchain
  • Members agreed to an evaluation format

      1. Time to integrate, PMF/NFX potential
      1. Tech CosmWasm/Rust first
      1. Support Environment (Belief in the Operating System thesis)
      1. Cultural Fit - leadership, brand, Operating Mindset, Targeted Users, economic compatibility (business/token/revenue/wealth creation)
      1. Andromeda/aOS Value Prop
  • Early Target L1 leadership contacts were made to establish meeting coordination and scheduling

  • As Andromeda’s Artificial Intelligence capabilities rapidly improved, a new faster analysis tool proved to be worth using to increase the speed of analysis

  • Members agreed to use this tool as a beginning to speed Member Analysis

  • Over the next two weeks, these documents will be developed for next month’s report

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