# Spork Tokenomics Planning

## Overview
Planning and tokenomics for Spork, the official token of Spork DAO.

See below for resources, historical distribution plans, proposed future distribution plans, and governance.

## Resources

* Governance Chart: https://whimsical.com/UThJNRtyNNuDT5iimu7FB1
* Talking Points: https://docs.google.com/document/d/1Eyj3b_-JV8GA8J9to1cZrUcciIjwJ_9xECgLtdd15Ho/edit

## Distribution Plans

SPORK will have a total, capped of supply **528,000,000**. This number is in honor of Denver being the mile-high city at 5,280 feet above sea-level.

We plan on splitting this SPORK between a historical distribution that covers the last 4 years and future distributions to cover at least the next 10 years.

### Historical Distribution

Around 27% of the total supply of SPORK will be distributed to historical contributors that fall into the following categories: Sponsors, Merch Buys / Vendors, Volunteers and Stewards, Attendees and Speakers, Hack-a-thon participants that submitted projects. That comes out to around 140 million SPORK to those who have contributed to the ecosystem thus far.

The breakdown of that 140 mm SPORK across those categories is:

* Sponsors - ~17%
* Merch Buyers and Vendors - ~17%
* Volunteers and Stewards (i.e. super volunteers) - ~20%
* Attendees and Speakers - ~26%
* Hack-a-thon teams that submitted projects - ~20%

We're also giving Colorado Jam and Bufficorn Ventures around 3.5% of the total supply to act as their initial treasuries. They'll get some SPORK on an ongoing basis, as explained below, but we want them to start out with a healthy treasury to kick start their activities.

Finally, we've got some other special core contributors and activities that are getting a one-time SPORK distribution.

Opolis is getting 10% of the SPORK in recognition that it's largely been responsible for putting on the event in the past and covered any cash shortfalls in order to keep the event free.

There's also 3% of the SPORK set aside for the ongoing NFT Auction and Merch Sales. One percent of this SPORK is going to the NFT creators / artists, 1% is going to buyers, and 1% is going to those who spend more than 5.28 ETH on the auction and merch. This Auction is how we're planning to fund ETHDenver and the other activities this year, so it's important we reward those who are making this happen.

See: https://docs.google.com/spreadsheets/d/1B4kIIdW-vDQSTvIbY2wrAHkpq2T5t51pSax6_tv6nDI/edit#gid=0 |

### Distributions Going Forward

To keep the SPORK ecosystem sustainable, and reward participating earlier rather than waiting around to get your SPORK on, the amount of SPORK emitted each year will decrease.

The SPORK emissions will start out at 6% in 2022 and then go through a "lessening" each year on this schedule:

| Year | Total SPORK Emissions |
| ---- | ------------------------- |
| 2018 | 10% (part of hist. disto) |
| 2019 | 9% (part of hist. disto) |
| 2020 | 8% (part of hist. distro) |
| 2021 | 7% (part of hist. distro) |
| 2022 | 6% |
| 2023 | 5% |
| 2024 | 5% |
| 2025 | 4% |
| 2026 | 4% |
| 2027 | 3% |
| 2028 | 3% |
| 2029 | 2% |
| 2030 | 2% |
| 2031 | 1% |
| 2032 | 1% |

Our proposal is to split up each years' SPORK rewards across the following categories:

* Sponors - 14%
* Merch / Sales - 14%
* Stewards / Volunteers - 15%
* Attendees / Speakers - 20%
* Hackers (i.e. those who submit projects) - 15%
* Bufficorn Ventures - 10%
* Colorado Jam - 10%
* DAO Discretionary Tokens - 2%

We believe that this breakdown means that the individuals in each of these categories will recieve an amount of SPORK each year that will keep them incentivized to participate and reward the awesomenss they contribute each year.

### Governance

As ETHDenver evolves into a SPORK, we want to make sure that governance is initially setup in a way that includes a way for the maximum number of people to participate in the big decisions. We also create opportunities for those volunteers heavily invovled in one spork prong to plan and make decisions in a decentralized way. Balancing the big tent with getting stuff done is important for success of our ecosystem.

To achieve this with the current decentralized tools, we'll have SPORK DAO (the big tent) use Gnosis Safe Snap to allow all SPORK holders to vote on big, directional decisions. At the prong level, we'll have Moloch DAOs hosted on DAOhaus for each prong. If you want to get invovled with a prong, you'll be able to stake some amount of your SPORK to join that DAO.

To see a technical breakdown, check here: See: https://whimsical.com/UThJNRtyNNuDT5iimu7FB1

### Notes

https://docs.google.com/spreadsheets/d/1B4kIIdW-vDQSTvIbY2wrAHkpq2T5t51pSax6_tv6nDI/edit#gid=0
...

* Core Team / Stewardship
* 10% reserved bucket (spread out over a couple years) discretionary for core team and other key contributions as determined by snapshot / board of LCA.

* Opolis (for sale)
* TBD - 5%?
* Plus historical rewards
* Plus free marquee sponsorship for 4-5 years (or other credits)

### Future Distribution

**Key Question / Goal:** How do we design a rewards system that incentivizes the stakers in the different tongs to do a lot of the work (and reward them fairly)?

*One yearly bucket primarily attached to the event. Then a separate bucket for year-round contributors.*

*Keep rewards buckets:*

| Category | Distribution |
| --------- | ------------ |
| Sponsors | 25% |
| Stewards / Volunteers | 25% |
| Speakers, Attendees, Vendors, Swag Buyers | 25% |
| Submitting Project | 25% |

**Key Question / Goal:** Are there any staking / rewards games we want to play to encourage immediate engagement with the token?

**Key Question / Goal:** How do we align the answers above to create a long-term, sustainable, circular economy.

*Tying sponsorship to bounties and lots of rewards to submitting completed projects towards bounties, which futher plays into the pipeline for Colorado Jam and Bufficorn VC. Creates a lot of circular value around creating bounties and buidling towards those bounties.*

### Governance

#### Legal Structure

SPORK DAO LCA
| | |
V V V
Bufficorn LLC ETH Denver, LLC Colorado Jam, LLC

#### Technology

Spork DAO will use a Gnosis Safe for its main treasury and will largely rely on a snapshot space for directional guidance.

Each LLC will have a Moloch DAO that via a minion controls a Gnosis Safe where that tong's treasury is kept.

See: https://whimsical.com/UThJNRtyNNuDT5iimu7FB1