---
# System prepended metadata

title: Raid Guild Token
tags: [token]

---

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tags: token
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# Raid Guild Token


## Planning Doc

### Purpose Brainstorm 
- Would be a good time to do so for us to have runway to continue to operate on an ongoing process
- Having a liquid asset that ties the RG community together, it can allow for some more decentralization, charded, and structuring of RG itself
- **Concern:** There is a lot of cross-over between ChiliToken, $HAUS, and RG - we don't want to oversaturate the market.  Additionally, all these communities will depend on the respective communities providing value to each other
    - **Addressing Solution:** How can we build in mechanisms or processes to address this concern (keep on supporting each other)
- Something around clients -> Reward or bring in our clients to the process.
    - Do we want to allow clients to have governance rights over RG?
        - Tae:  We want to increase long term engagement with these clients
            - In docs it say "Loot Grab"
            - Loot being equivalent to RG shares but no voting rights
    - Having loot brings up an interesting concept where if you earn loot when working with the guild, you can eventually ragequit that loot.  This is a way clients can actual capture some of the value that they create. 
        - This almost brings up a way for us to measure the value we create by delivering a good
- Clients want us to be around and continue to take on projects. Internal raids and DAOs ops are what enable us to continue to operate and always have raider available for them when needed.  A token liquidity is a way for clients to support our internal efforts.
    - This gives an additional stake of clients in RG in internal success
- If we give governance rights to clients, we enable a way for clients to band together to co-contract RG for a product that multiple clients can leverage.
    - Be creating a shared alignment of clients, it can support RGs push to work with open-source clients (as well as the reflexive of pushing clients to be open-source)


### Considerations/Constraints
- Keep the payment and hiring process as simple as possible (maybe don't offer a discount to be paid in guild tokens)
- Legal Compliance (anything that needs to be considered)
- 

### Goal
1.  Align interest of guild with that of clients to encourage long relationships
2.  Align interests of clients with each other to create a more productive and open eco-system.

## Meeting 3/18
- If we take on liquidity, as it provides a cushion and we don't have to take on shitty projects
- Start paying people small salaries for ongoing and rolling projects
- What's the valuation we put on ourself?
- Deke *Idea*:
    - Drop tokens to clients and members
    - Do an internal raise
        - for 5% of the tokens -> helps set the price and determine how much we're willing to pay for it
    - We use the raise to back our tokens
    - Create a farm and distribute another 10% of the tokens via the farm
    - The token holders then decide how to distribute the rest of the farm
- LoLo question: How will we spend the funds? Spec out proposals on where these funds will go 
    - **Action** item: Yalor will create a doc to explore this idea! 
- Can we launch on APE-ril 20th? 


## Meeting 3/22

Potential Idea:
- Create two separate DAOs: (1) Main Raid Guild DAO, (2) Raid Guild Incentive DAO
    - Main Raid Guild DAO:  Operates financially independent how it's currently done
    - Raid Guild Incentive Token:  This receives investment, and Raid Guild has access to the funds  by some governance model
        - Could potentially do it where Raid Guild Main DAO sends proposals to the Incentive Fund DAO to fund different RIPs or Raids we think can be used for other purposes
        - **This is starting to look a little security-ish**
    - Benefits of two daos is that it doesn't change the the raider stopped participating
        - This would be an alternative to Guild Kick

- We don't think it's a good idea to give non raiders control over Raid Guild Governance 
        
        
Easiest and simpliest way to do this is just to have a token that gives clients a discount, priority, and long term relationship



### March 25 quicknotes

- Not a lack of ideas here 
- Dekan: Utility for us internally to boost projects 
- Max Glass: Would like us to go for more public goods angle
- Think of this governance as signal governance rather than actual governance
- This fund can also create a funding pool to start providing the required support for public goods that need support (like weth or smart invoice)
    - Can help boostrap liquidity into more mature projects as well
    - This matches our ethos of galvanting around the Eth Ecosystem supporting the public goods
- Spencer:  Having a common Token could potentially help facilitate fractalization 
- **Question:**  Do we want both a public token and a collective token?  Public token to raise money and a guild token for us to "bet on each other" or support fractilization efforts


### Action Items
- [ ] **Action Item:** Yalor to create doc to explore what to spend money on.


## April 6 (info on burning usages)
What makes the slushie fund valuable? (slurpees are better :p)  What makes Raid Guild unique and valuable (as opposed to gitcoin or clr fund)?

Reasons to buy the token:
1. Pure Philanthropy b/c they believe in Raid guild
1. Governance over the public goods raid guild builds (staking or granting)
1. VC Deal Flow
1. Preferential Access to Raid Guild Service (retainer like things)
    1. Allow for emergent use cases as well (i.e. illustrators in the dao sell NFTs)
    2. consultation "auction"
        - Get rid of the 24 hour window
        - Whomever has burned the most raid tokens at the time we can take a consultation is the winner (i.e. pixelportraits model)
    4. access to client arena (or other channels)

Usages:
1. Reward referrals with tokens
 
Not necesarilly a benefit, but grant clients tokens (created allignment between clients)

Items 3 & 4 requires burning of a token
Items 1 & 2 receive a yield of minted tokens
Correlate the rate at which tokens are being minted and dirstibuted to the rate that tokens are being burnt at 
- This means that if Raid Guild services are becoming more valuable, more tokens are being burnt, which means more are being minted and distributed to public good governance
- This ties together Raid Guild performance to the performance and participation in the Fund
- The better Raid Guild performs, the more we're incentivizing public goods funding (via the mint and distribute)

By listing the token on public market as well (in addition to the public good bonding curve pool), the higher the price on the open market price, it creates an upward incentive to put money into the public good funding pot. 
- **We need to figure out the way the continuous purchase price is set.**



### Guild Questions
- Does this create and environment where it is more incentives to hold then burn?
    - This might be an arguement to for a continuous funding model
- Maybe stay away from a bonding curve as those get tricky
- If we allow anyone to buy as much token as they want, it becomes potentially a whales game
    - limit where the proposals can come in from
    - Or create financing taunches 

## April 13 Meeting Notes

https://www.figma.com/file/CXPNy4nupmiTijR6H0l4HO/Raid-Token-Flow?node-id=0%3A1

### Continous vs One Off
- Provides a lot of benefits
- But getting the continous benefits right is really hard to do
    - Pros:
        - Fits mint/burn model better
        - 
    - Cons:
        - Less experience
- Could use a constant product
    - Do we really know reasons to or not to use? 


### idea for "continuous" funding
- some portion `x%` of the tokens burned each month would go to reward stakers in the public goods governance
- the remainder `1-x%` of the tokens burned each month would be auctioned off to buyers, with the proceeds going into the public goods pot
    - dutch auction?
    - gnosis auction?
    - something else?


### Concerns
- Will leave up to Raid teams if they want to get paid in RAID (as in we won't encourage it)
    - We want to avoid a system where we are minting tokens to then just get paid in it

### Distribution
- When thinking about the amount of the tokens that Raid Guild holds, we need to consider the tokens that are being rewarded to clients 


## April 22 Meeting Notes
Three Buckets:
1. Client Services - RG bread and butter
2. Public Goods Building - Public Goods that Raid Guild keeps building. Think Smart Invoice or WETH
3. Kickstarter Like Projects - Random Projects that token holders vote on

### Open Questions
- [ ] Continous vs one off
    - Pro's:
    - Con's:
    - Proposed Ideas:
        - Proposal 1:
            - Start with a one-off and move to continuous as we iterate on the token
        - Proposal 2:
            - Move from continuous to periodic 
            - Continuous sounds good, but periodic gives a lot more flexibility to understand how things go
            - This isn't free though, it means that the community has to trust what we're doing.
        - [ ] If continuous, then what is the rate of the the offering
        - [ ] The math between burning and minting
- [x] Initial Distribution/Sale
    - Use a limitless and permissionless Auction, where everyone submits the amount they want to buy, but then we sell tokens to everyone at the same price
    - Similar to a VCG Auction
    - Submits the amount of money they want to spend, then we distribute the appropriate amount of tokens 
    - [x] Should we take a small percentage of the initial sale for the Guild Treasury 
        - Raiders
        - Present Clients
        - Previous Clients
        - Consultations
        - Interacted with the Guild
        - Guild Bank
    - [x] Send a portion of the sale to the guild
        - Yes


### Detailed Percentages of Distribution
Proposals
- Proposal A
    - Raiders
    - Clients
    - Consultations
    - Interacted with the Guild
    - Guild Bank
    - Open Market
- Proposal Aaron Simple
    - Raiders = 40%
    - Guild Bank = 10%
    - Clients = 10%
    - Open Market = 40%
- Proposal Dekan
    - Raiders = 10%
    - Guild Bank = 10%
    - Clients = 10%
    - Interacted with Guild = 5%
    - Open Market = 65%
- Proposal Ven
    - Raiders = 15%
        - Distribution within category to be determined by engagement, shares, and value created
        - Need to create variables for the model
            - Gas used
            - Gensis Label
            - Discord Activity
            - Raid Stats (keeper bot)
            - RIP Stats
        - Can use a multiplier as well
            - Everyone starts with a base level of distrobution, then multiply is based on the above variables
    - Guild Bank = 5%
    - Clients = 10%
        - Not a even distirbution within this category but tiered or sliding on usage
        - Variables
            - Number of raids
            - Total amount of $$
            - Paid in Crypto
    - Interacted with Guild = 5%
    - Open Market = 65%


### Next Steps
- [ ] Detailed Percentages of Distribution
    - Distribute 100% of tokens
        - Creates a forcing function to continue to expand burning mechanisms to enable a circular economy
    - [x] Internal Raider Distribution
        - Tae, Lucas
        - Every member gets a base amount of tokens
        - Then objective (Hard) of facts
            - Time in guild
            - Raids
            - RIPs 
            - Consults 
            - gas used (proxy for governance participation)
            - Only incremental shares (rewarding people who put money back into the guild as shares)
        - Then subjective (soft) if facts
            - Meetings attended
            - Unrecognized Work (bot maintenance, RIPs proposed, Agenda Making)
            - Discord Interaction
            - Recruitment
            - Comms 
        - What do we do with in-active members?
        - Deadlines:
            - What needs to be self reported?
            - First iteration to internal team - 5/4
            - Guild Presentation - 5/6
        - **Final List of Attributes:**
            - Shares
            - Shares Earned
            - RAIDs
            - RIPs
            - TIG
            - FIW
    - [x] Client Distribution (Scott, Lucas)
        - Proposed
            - Consultation
            - Raid Completed
            - Total Raid Value
            - Multiplier for repeat clients
            - DECISION MADE -> Next Step: fill in table
        - Final Attribute List:
            - Base
            - Number of Raids Multiplier
    - [x] Release Schedule for Raiders and Clients
        - Delayed Release or all at once
            - **Decision:** Raiders get claim window. Vesting schedule for raiders owning the projects
    - [x] Interaction with the guild
        - Poll the guild as to whom has helped the guild but there is no record that exists.  Then grant the members on that list a flat amount.
        - First iteration to internal team - 5/4
        - Guild Presentation - 5/6
- [x] Governance over the periodic issuance
    - This is over the periods and mechanics of each issuance period when tokens are minted
    - Aaron, Ven
- [x] Final decision on the first usages
    - [Current Usages](https://hackmd.io/649YYqgCSTuI2dH-U0s8mA?both#April-6-info-on-burning-usages)
    - Final Decision:
        - Just starting as a priorty client auction (access token) 
- [x] NAME OF THE TOKENNNNNNN
    - Ideas
        - SWORD ++
        - CASTLE
        - KEEP
        - REALM
        - FAIR
        - JOUST
        - VOUS
        - GOLD
        - INGOT
        - KNIGHT
        - RAID
        - GUILD
    - Final Name:
        - RAID
- [ ] [Roadmap out the build components](https://hackmd.io/S1es6WeTTVmp3Ud4QNnHdA)
    - What to start building
        - [ ] Token Contract
            - Cup of Joseph, Spencer (consulted)
            - ERC-20, ready to go, featureless as of now
        - ~~[ ] Special Minion~~
            ~~- Dekan~~
            ~~- Status: 5/4~~
                - Started work, Spencer to give
        - [ ] ~~Spec out the Gnosis Auction Framework~~
            - ~~Keating~~
                - Out of the box it seems pretty straightforward. There are two ways to create an auction one is via the UI and the other way is via scripts. The bulk of the work is setting the auction parameters. They are listed in the UI below.
              - UI
                  - https://ido-ux.dev.gnosisdev.com/#/docs/starting-an-auction-with-safe#topAnchor 
                  - ![](https://i.imgur.com/i7zjVcz.png)
              - Scripts
                  - https://github.com/gnosis/ido-contracts
- [ ] Create go to market plan
    - Aaron
- [x] Submit RIP to the guild for funding
    - Aaron


## Distribution Model
- [Link to Model](https://docs.google.com/spreadsheets/d/1ml8_mGcUqJMw0pvOgnw7PFcFyuufc3kZ1UbAAdC0_Ss/edit?usp=sharing)


### Governance
1. Voting on propsals from Raid Guild
2. Management of Periodic Issuance
    - Continous vs Periodic
        - Continuous
            - Would force us to establish rules at the beginning
        - Periodic
            - Allows Flexibility
    - Progressive Decentralization Approach 
        - Start with full guild control and slowly release governance to the DAO
            - Give parameters that RG operates within (i.e. we will NOT give it to ourselves)
            - Start with a specific # of usages of minted tokens
                - Then any additional usage to re-circulate will have to be approved by the DAO.
**Decision:**  Periodic + Progressive Decentralization Approach


## Launch activities

- blog post announcement
- twitter stuff
- hint-dropping to select individuals
    - our personal circles
    - VCs? (play up access to client alpha, eg client pitch/demo days)
- launch event
    - introduce web3 public goods we [want to build](https://hackmd.io/b3A58u7qQaCBw9TosMzFzQ)
- media outreach / PR

## June 8th Meeting Notes

Options to address issues:
1. Consulation Continues, No Token (consultation auction uses DAI)
    - Votes: 0
2. Token + Consulation + RG sells a small amount of token to increase liquidity (White Listed Sale)
    - Votes: 2
3. Token + Consulation + RG sells a small amount of token to increase liquidity (Open)
    - Votes: 1
4. No consultation Plan, No Auction
    - Votes: 0
5. No change to plan (Auction, Token [just the drop], No Liquidity Event)
    - Votes: 4