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Title:Stop Individual Donation
Author:MK,HillStone,twodam
Date:03/22/2022
Thesis:
Close individual donation to JuiceboxDAO project.
Abstract:
Implement a new Terminal, migrate JuiceboxDAO project and stop individual donation.
Motivation:
User who mint JBX on platform may not knowing there are better price on secondary market, and they may wondering why there are instant loss due to price gap between mint/redeeem.
Risks:
Individual can’t mint JBX and contribute their funds to JuiceboxDAO project directly.
Specification:
- Fork TerminalV1_1 and add logic about only accepting donation from other Juicebox project.
- Migrate JuiceboxDAO project to that implmentation Terminal contract.
Rationale:
- In the past three months, individuals donated 19.5eth, only 1.8% of total. Did they know there are better price on Uniswap?
- The protocol revenue has covered the expense, there are not much need for further fundrasing for now. The discontinuation of individual donations, on the one hand, accounts for a very small percentage, and has little impact; on the other hand, it allows room for secondary market trading.
- Individual donations to mint tokens amount enables potential “unlimited incremental issuance”, leading to a long-term divergence between token value and secondary market price, and discouraging the acceptance of JBX on CEX and the entry of investors.
- Stopping individual donations and raising the token price and value floor will also allow fundraising project parties to see the price of JBX tokens and be willing to hold them for the long term and grow with Juicebox.
- Properly incentivizing the secondary market performance of token prices can lead to a better community atmosphere and people are more confident to participate in the community, cf. MoonDAO.
- The price will basically not exceed the current issue price, so it does not raise the entry barrier for members afterwards, while also retaining the channel for platform projects to continue to pay fees to obtain JBX