The SoftDAO Whitepaper 21 states “the advent of blockchain technology is a human advancement that rivals the printing press and double-entry accounting in its magnitude.”

One benefit to this advance is that Web3 communities can now organize in a manner that’s global, decentralized, transparent, and immutable. Tokenized assets — like the $SOFT 10 token — can thus represent a holder’s position in a broader community of shared incentives, values, and common goals.

In short, the SOFT token can become an user’s immutable certificate of belonging, alignment, and place in the SoftDAO community. Therefore it’s critically important that the distribution of $SOFT 10 is in accordance with:

The SoftDAO’s values
The SoftDAO’s mission
Effective, decentralized, and sustainable governance
We think it would be in the best interest of the DAO to approve the following distribution plans for the SOFT token:

SoftDAO Token Allocation
allocationpiechart
allocationpiechart
853×364 55.7 KB
Categories
SoftDAO Treasury (35%) - grants, partnerships, advisors, service providers, bounties, referrals

Operational Costs (10%:) - incentivizes for ongoing operations of the SoftDAO

Early Developer Bounties (10%:) - recognizes past contributions and position within SoftDAO community, incentivizes current as well as future development

Early Supporters (10%:) - recognizes past contributions, increases likelihood of knowledgeable stakeholders in governance, and incentivizes continued strategic support

Future Developer Bounties (8%:) - incentivizes and reserves governance rights for future developers.

Friends & Family Round (7%:) - recognizes past contributions, solidifies strong community of supporters, increases SoftDAO sustainability, and incentivizes ongoing support

Community Round (10%:) - decentralizes community through a broad token sale, ensures that many individuals within the community are participating in governance and recognized community members from genesis

Future Rounds (8%:) - ensures access to future capital, reserves tokens for future community members or over-subscribed initial rounds

SoftDrop (2%:) - further aligns Tokensoft and SoftDAO community and decentralizes the token

Vesting & Lockups
SoftDAO Treasury: Use of Treasury funds will be subject to SoftDAO governance and may include grants, partnerships, advisors, service providers, bounties, referrals, and funding. Tokens in the SoftDAO Treasury will not be subject to vesting or lockups.

Friends & Family Round, Early Supporters, and Operational Costs: Tokens in these categories would be subject to either time-based or price-based lockups or vesting schedules. For tokens on a time-based vesting schedule, tokens are subject to a four-year vesting schedule with a one-year cliff (25% or 12/48 of tokens vest immediately at one year, 1/48 of tokens vest in tranches on monthly anniversary thereafter). For tokens subject to a price-based vesting schedule, tokens are scheduled to unlock in 25% increments as the bitcoin price rises above $50,000, $60,000, $70,000, and $80,000. Unlocked tokens may be claimed in these increments so long as the bitcoin price remains above the respective increment’s strike price. Tokens in the vesting contracts will still provide beneficiaries with voting power during the lockup and vesting periods.

SoftDrop: Tokens will be subject to an initial 3-month lockup period with a two year, continuous vesting schedule after that. Tokens in the vesting contract will still provide beneficiaries with voting power during the lockup and vesting periods.

Community Round: 3-month lockup followed by a two year, continuous vesting schedule. Tokens in the vesting contract will still provide beneficiaries with voting power during the lockup and vesting periods.

Other Details
Max Allocations: Round allocations are maximum allocations, actual tokens sold in each round may be less than the allocated amounts.
Unsold or Unclaimed tokens: Unsold or unclaimed tokens in any round may be made available in subsequent rounds or returned to the Treasury.
SoftDrop: Subject to governance; these tokens will be made available — free of charge — for legacy Tokensoft community members and incentivized testnet participants to claim (through rebasing or a similar mechanism).
Stewardship: as launch partner and Compliance Provider, Tokensoft will steward allocations toward Operational Costs, Early Developer Bounties, Future Developer Bounties, Early Supporters, and the SoftDrop. The allocations across these categories are subject to discretionary changes as needed.
We welcome and look forward to feedback from the Community ahead of the vote next week.

Vote: Monday October 24th, 2022 - 9pm UTC