# Algobots DAO

## Overview

The Algobots DAO is a community-run DAO dedicated to the promotion, advancement, and enjoyment of [Algobots], a NFT generative art project by [Stina].

With the consent of Stina, the Algobot DAO will pursue community-led initiatives involving Algobots, which may include commissioning more Algobot-related art, producing physical Algobot-themed merchandise, negotiating the inclusion of Algobots in other media or franchises, or anything else the Algobot community deems appropriate.

The Algobot DAO will be governed by holders of BOTS, an ERC-20 token.

[Algobots]: https://artblocks.io/project/40
[Stina]: https://stinajones.co.uk/

## Token Distribution

There will be a permanently bounded supply of 1,000,000 BOTS, which will be distributed as follows:

| Recipient | Tokens |
| --- | --- |
| Algobot Holders | 500,000 |
| Stina | 100,000 |
| DAO Contributors | 200,000 |
| DAO Treasury | 200,000 |

All tokens will vest via an exponential decay, so that 500k tokens are distributed in the first four years, 250k in the next four years, and so forth.

The largest slice of tokens is distributed to Algobots holders. Each individual Algobot can "mine" BOTS, which are claimable by the current holder of the Algobot. Over its lifetime, each Algobot mines 1000 tokens.

The second slice of tokens, 10% of the total supply, is reserved for Stina in gratitude for creating Algobots.

The third slice of tokens is earmarked for contributors to the DAO. Initially, these tokens will be distributed using [SourceCred](https://sourcecred.io), but the DAO can choose to change the token distribution mechanism via governance.

The final slice of tokens will be saved for the DAO treasury, to fund future investments, partnerships, etc. This is controlled by the DAO members, so a portion of this slice could be redirected to a different slice at the community's discretion (e.g., to pay DAO contributors more).

## Artist's Consent

The DAO seeks to operate with the blessing of Stina, the artist who created Algobots. In gratitude, the DAO commits 10% of the BOTS token issuance to Stina and her descendants/heirs/estate. Furthermore, under the terms of the NIFTY license, the DAO cannot engage in unlimited commercial activity related to the Algobots IP without Stina's consent.

Therefore, the DAO will seek Stina's consent to engage in commercial activities, such as producing Algobot-themed merchandise, selling Algobot-derived NFTs, and (in the future) sublicensing Algobots for inclusion in other brands or media. If Stina withdraws consent, the DAO will cease commercial activities and revert to being a general association for the promotion and appreciation of Algobots.

## Discord

The Algobots DAO is being organized on [this Discord server](https://discord.gg/SSGjPzXwsG).

## Smart Contracts

Development of the Algobots DAO contract is ongoing here: [algobots-dao/contracts](https://github.com/algobots-dao/contracts).