## tl;dr
[rocketman](https://warpcast.com/rocketman) and [riderway](https://warpcast.com/riderway.eth) are building the Gnars Flows. Experiment and showcase for 4 months.

The Gnars Flows allows anyone to participate in community funding through $GNARS tokens — customers, investors, and builders — backed by a shared treasury.

Costumers, fans, investors can pay the treasury to make new $GNARS tokens – this tokens gets more expensive to make tokens over time, encouraging early adopters to keep their tokens on the network and align their interests with revenue growth.

## Why buy $GNARS tokens?

The $GNARS tokens represent your access to Gnars, the open-source brand and action sports accelerator

- Support the revenue network growth from Gnars by supporting surfers, skaters, athletes, filmmakers and more...
- Join the membership Gnars has customer, enthusiast, fan, investor, sponsor
- Onchain revenue access to analyze where resources are going
- Vote on how money will be spent through the TCR (Token Curated Registry)


## What happens when buying $GNARS?

- Fund athletes and active contributors, through splits and buybacks
- Enable new revenue streams backed by Gnars treasury to bring more sponsorships
- Create new revenue streams for contributors, filmmakers, and other underfunded DAO activities

## Revnet Terms Glossary

#### Notes & Questions

#### Stages/Phase
The time period during which a specific set of rules for the Revnet is active. The rules are fixed for each stage. Stage one, stage two and the last stage lasts forever.

#### Initial token issuance price
The number of Revnet tokens that will be issued per unit of a base currency received ($tokens/ETH). This is the price at the beginning of a specific stage and **increases throughout its duration**. "**price ceiling**".

#### Boost / Split
The **percentage of newly issued tokens** that is automatically directed to a **pre-defined destination**, determined by a "boost operator". This percentage is fixed for the stage, but the operator can change the destination. It can be **directed to a treasury, governance, or staking pool**. It can also be **divided or processed by "split hooks"**. Also called "Share revenue with miners" and "Earlier minter bonus rate".

#### Operators
An address specified in the initial Revnet configuration that has **limited power to direct the destination of boost allocation** for a given stage. The operator can change the boost destination over time, but not the percentage. The operator can **transfer or revoke their role**.

#### Auto-mint / Premint
An **optional** amount of tokens that is created and issued at the time of Revnet deployment. It is usually sent to an initial operator. "Deploy tax" or "Tokens to automint". It serves for **initial distribution or preferential access to future revenues**.

#### Exit Tax / Exit Tax
Tax applied when token holders **burn their tokens** to redeem the underlying funds from the Revnet treasury. The value you get back is also called the "**price floor**". A higher tax means the redeemer receives less, leaving more funds for those who remain. It's a model that aims to **incentivize staying**. It's known as "cash out tax rate" or "redemption rate". It's based on exit, not time.
## Gnars Revnets
- **Builders** - the team building the project.
- **Investors** - the people funding the project.
- **Consumers** - the people consuming the project (users, clients, audience, etc.)

## Purpose

Gnars Revnets are treasury-backed tokens that run autonomously with scheduled rules. They issue tokens when they receive investments, revenue, or donations, and only release funds from the treasury when someone turns in their tokens. Builders can reserve a subset of new tokens as they're issued. Like Bitcoin, Revnets run on a preset token policy that cant be changed. You can use revnets to express new kinds of resiliant business models and to derisk founder-investor relations for open source tools/networks.

gnars.eth is the operator of $GNARS. It isbrings extreme athletes onchain and supports them by helping them get paid to shred without limits or gatekeepers. The goal of the fundraise is to fund gnars.eth with an initial balance of $GNARS. It will use this $GNARS to develop tools and resources that make Gnars more accessible, and to fund exciting projects derisked by their revnets. Ocassionally, gnars.eth will exit from its positions back to the $GNARS revnet.

##### This project will be deployed as a Revnet to:

- Fund gnars.eth with a $GNARS balance, used to bet on Revnets by funding the development of tools and resources that make them better and more accessible.

## Revenue Model

- Invest in revnet-based opportunities in GnarsDAO.

## $GNARS Specifications

The $GNARS revnet will play out in 3 stages with the following specifications:

### Stage 1 | Fundraise

The goal of this stage is to raise $GNARS to gnars.eth that'll be used to build revnet-enabling tools like flows.wtf/gnars, and allocate to promising revnet-based projects.

| Property | Value | Reason |
| --- | --- | --- |
| Duration | 72 days | Arbitrarily a short while to fundraise. |
| Initial price ceiling | 1,000,000 $GNARS / ETH | Arbitrary. |
| Price ceiling's increase rate | 1% every 24 hours | Constant nudge to contribute sooner than later. Arbitrary number. |
| Boost | 200,000,000 $GNARS upfront and 50% of new $REV | Seed treasury, recognize initial research, development, and grants, fund the porfolio. |
| Boost operator | The gnars.eth multisig. | Currently consists wallets with a 3/6 policy. |
| Price floor's tax intensity | 0% | Tax-free access to raised funds for the boost to access liquidity. |

### Stage 2 | Execute

| Property | Value | Reason |
| --- | --- | --- |
| Duration | 4 years | Arbitrary period to push the thesis with strong growth incentives. |
| Initial price ceiling | 10,000 $GNARS / ETH | Arbitrary. Start less than the first stage to incentivize the fundraise stage. |
| Price ceiling's increase rate | 0.05% every 3 days (100x decrease) | Reduce but maintain the preference for earlier contributions. Arbitrary number. |
| Boost | 50% of new $GNARS (no change) | Continues to fund gnars.eth. |
| Price floor's tax intensity | 10% | Access to funds not taxed very much for continued access to liqudity. |

### Stage 3 | Reduce

| Property | Value | Reason |
| --- | --- | --- |
| Duration | Forever | No more changes after this stage. |
| Price ceiling's increase rate | 10% every 3 days | Tend toward 0 issuance faster. Arbitrary number. |
| Boost | 5% | Reduce the preferential issuance. |
| Price floor's tax intensity | 40% | Exits taxed more. Abitrary number. |

The $REV network will be on mainnet, but issuance will also be available from Optimism and Arbitrum.

#### Todos

- example
- example

#### Notes & Questions

## How to help grantees drive revenue and grow the pie for everyone?

- A revnet integration, team management, revenue integrations. eg: Slice/Shopify/Droposals into Flows to start.
- We plan to make these features available at no cost to Gnars grantees, to help them earn revenue for Gnars.

### Split
- 20% of the Gnars Flows revnet (that issues the TCR token) with the Gnars DAO treasury.
- As the Gnars flows gain more sponsorship, more folks will curate, and the treasury will earn more.
- Our first idea is to help tag posts that are mints/purchase opportunities via the API, so they can be shown easily on the gnars.com homepage.
- We commit to working closely with Gnars to figure out how to maximize revenue back to the treasury.

### Base Camp
- Sponsors Gnars content via Flows
- Base Branding in Flows and Gnars Page
- Creators wear and use Base branding in videos and photos creations
- Creators creates content to generate revenue for then, for the dao, for the flow and for the sponsor if sponsor opt in for revenue split
### Shredders

A shredder or group of shredders

- Kampala Skateboard Initiative signs up for the accelerator features
- They start hiring a team across Gnars with their initial salary
- Launch a revnet w/split to Gnars treasury
- Start selling merch / mints and drive revenue into revnet
- Attract more buyers + grow their impact and the Gnars treasury

## Extra

- Gnars website is going to Showcase shared revenue creations


## Request

We want to fund $1k USDC per month, for 4 months, to two flows. 10% of each Flow will go to curatorship

**Shredders Mission** Elevate shredders who embody the Nounish ethos, improve local scenes as real-world heroes, and fly the Gnars flag into new parks, waves, and streets.

> **Requirements**: (To be finished with community)
>
> - Post at least 4 new sessions/engagements per month
> - Generate quality video sellable video/image products.

**Storytelling Mission**

Capture, remix and broadcast Gnars stories that spark excitement, onboard newcomers and grow awareness for the brand, generate quality video sellable video products.

> **Requirements**: (To be finished with community)
>- Produce two high-quality pieces of Gnars content monthly
>- Videos/virals: Content with split
>- Articles/written content: 1000+ words
>- Other media: Comparable scope
>- Article in [Gnars Community](https://paragraph.com/@gnarsdao) (paragraphy)

| Shredders | Description | Budget |
| -------------- | ----------------------------------- | ----------------- |
| Shredders | Athletes | $ 1.000 per month |
| Storytelling | Filmmakers, editors, writers, Midia | $ 1.000 per month |
| Merch Products | Branding merch | To be finished with community |

## Development Work involved

- Support Gnars token voting on the frontend
- Build out flows.wtf/gnars subpage
- Deploy contracts w/Gnars token voting support and add to indexer
- Flags in API + infra for flagging drops/mints to start to build revshare
- Revenue generation features + work

**Development Cost:** 1 ETH