[Proposal] [Discussion] Special APRs for the Community Treasury donors

Summary
The previous proposal on creating the Community Treasury bound the core team to work on rewards for the early donors of the Treasury. This proposal aims to come up with a resolution on the special APR for the donors.

Previous proposal mentioned:
https://kangaltoken.community/t/proposal-concluded-create-community-owned-treasury-for-donations-and-grant-benefits-to-donors/

Plan
Let’s discuss this subject in this thread for 2 days and move on to voting on proposals on the snapshot spaces.

I propose to have a tiered APR system for the donors for a limited period.

The regular APR for staking Kangal and getting the utility token will be decided by the community as well in the future as we are closer to the point when the staking will go live.

We will refer to this regular rate that will be decided by the community as R-APR. What we need to decide for this proposal is:

1- How many tiers we will have?
2- What will be the R-APR multiples for these tiers
3- How long this special reward period will last


An example:

The special reward period lasts 30 days.

Tier 1: Donations up to $100, 1.5x R-APR
Tier 2: Donations up to $300, 2x R-APR
Tier 3: Donations up to $1000, 3x R-APR
Tier 4: Donations up to $5000, 5x R-APR
Tier 5: Donations up to $5000, 5x R-APR
Tier 6: Donations up to $10000, 8x R-APR
Tier 7: Donations up to $20000, 15x R-APR
Tier 8: Donations up to $30000, 20x R-APR

Multipliers above are very high, keep in mind this is just an example. :v:

In this example, if the R-APR that the community decides was 100% (staking 100M Kangal would yield 100M of Utility Token in a year), Tier 2 would get 200% APR (100% x 2). The duration of this extra APR should also be discussed. In this example it is 30 days — so Tier 2 contributors will get 200% APR for a month, and then return to the default APR value.


As mentioned, this is just an example, community input is necessary to move on with this proposal so we are looking forward to your thoughts!

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I think this is a really good start. I fall towards Tier 1/2 and it sounds fair to me, especially considering we’re using these donations for projects that will increase all of our chances of success. I’d be curious to hear from some of the people who plan to be in one of the higher tiers.

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difficult to comment without knowing more about the proposed tokenomics of the utility token. We also need further clarity on the function of the token. For example is the purpose to compete in the DeFi space? Or do we need to discuss this?

  1. What is the proposed use-case of the token?
  2. What are the proposed tokenomics?

I’d also like to know a little more about the Developers skillset so that we understand how far we can push this, and what are the current limitations as far as experience, coding languages, and any other restrictions we are working around (existing NDAs, no-competes etc…).

I’m not a fan of 30 day APR’s in return for tiered Donations. Let’s say the largest wallet owner donates $30k, and then stakes his 2.8B KANGAL; he receives a 20x return over 30 days so that is roughly 233M $HEEP tokens. You’re using a 1 for 1 staking return in your example, so that implies a maximum supply of 100B $HEEP tokens just like KANGAL, otherwise i’m not sure the math works out. Would 233M $HEEP tokens be worth $30K? Under this scenario I am skeptical.

I think a lot of people in crypto would be willing to just Donate if the cause is right and there is something there that makes them feel good about it. Otherwise I’m not sure we’re there yet. Financial returns are the only incentive to donate right now and I don’t believe this model provide adequate returns.

I would suggest leaving the 30 day APR staking model for just that, staking. As more people stake, the APR will need to be reduced to exercise control of cap dilution (this benefits early investors and is a diminishing return the later you decide to stake -incentive to stake early).

As far as rewarding Donations I think we either need to proceed 2 ways. This is either a charitable thing to do that benefits the community (but we still lack clear vision so this is difficult and will not incentivize many donations right now), or we provide a simple “pre-sale” mechanic based on a “published listing price” to community members only that hold KANGAL.

For example, the intent would be to list the utility token at 0.006. Community owners would be able to buy the token at:

Tier 1: Donations up to $100 can buy in at 0.003 (potential immediate 2x)
Tier 2: Donations up to $1,000 can buy in at 0.0025
Tier 3: Donations up to $5,000 can buy in at 0.001
Tier 4: Donations up to $10,000 can buy in at 0.00075
Tier 5: Donations up to $25,000 can buy in at 0.0003 (potential immediate 10x)

3 Likes

Well thought out thanks for the ideas

I like any reward for donating… a few suggestions… What motivates people?

Recognition- Perhaps we have badges, or donor ranks or even a sticker with colors for levels of donation i.e. silver, gold, Palladium :slight_smile: Then there are the ones that do not want to be mentioned at all so…

Rewards- I like the bonus rewards but they can be ever so slight and leveled… maybe 5%, 10%, 15% and 20% max extra staking rewards from the same wallet that donated.

Power or Influence- Maybe donors of certain levels get extra voting rights of some sort

Money- A third token… maybe a NFT of the Kangal drawings donated by the community… that might be cool… imagine to have an early Doge NFT token- If token does well your NFT will do well- At the end of the donor stage when we hit the 25k the top 10 or 10 randomly selected donors based on amount donated- would be able to select the NFT of their choice and so on until all 10 are gone for this period. So if you dont have money to donate maybe you have skills to make the NFT’s, maybe you can just draw and someone else can make the NFT with your drawing.

Love- Enter all donors into a drawing for a new Kangal puppy… kidding but Im buying one if this hits 1 cent for sure :slight_smile:

Money- Random drawing for 10 donors with tickts for every 20$ donated that will be drawn to win an amount over what is needed for the listing— ETH goes up to 3k soon we will have more than enough for the listing.

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Yeah this system makes sense to me for sure! Nice.

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@Edelweiss thanks a lot for the questions and ideas! This will probably answer just some of the questions you had because I will probably miss a lot of the points, so I just want to make sure that you know this is not the final answer or end of the conversation.


  1. The purpose of the utility token will be to use it in the decentralized applications on the platform.

  2. Tokens will be minted only through staking Kangal, APR will be decided by the community. Each use-case of the decentralized apps will burn some part of the tokens.

For more information and the initial ideas the core team had, please give the litepaper a look. We plan to create a proper whitepaper with the projects and more technical details as well. We also started the work on rebranding and redesign. To give an idea, this will be the “elevator pitch” of the project until we improve on it more:

"Kangal is a meme token turned into a DAO experiment that aims to create a community owned decentralized applications ecosystem. Kangal holders are already able to create and vote on governance proposals, and soon will be able to stake Kangal tokens for the utility token of the ecosystem, and use it on the decentralized applications that will be powered by the utility token.

Kangal is available both on Ethereum and Binance Smart Chain Mainnet."


About the experience of the team: we have enough experience with Solidity, related web technologies like React and web3.js to implement the dApps that interact with the contracts, and we are ready to learn and experiment more. For the utility token, we would prefer to keep it simple, making it mintable, burnable, and ownable as we mentioned before. Most of the work will be related to designing and building the decentralized applications platform.


About the monetary value of the utility tokens and question on rewarding donations:

Yeah, this is mainly just a donation, to be honest. We do want to reward the people who participated and there were ideas from the community about it so we are trying to realize them.

Committing too much related to donations is not something we are interested in because it will take time and consequently delay other work. We will deliver what we agree on and what the community votes on for sure as the result of this proposal. And you are right about making the vision clear for sure. For me, it is pretty clear right now but I accept that we haven’t communicated it very well. As I mentioned above, our idea is to create an ecosystem of decentralized applications that would be powered by our utility token; and let the community decide on the supply of it by deciding on the APR and burn rates related to usage. This is kind of like giving the keys of the central bank to the people, and it is going to be an experiment for sure. I believe the key will be to give real value through the decentralized applications ecosystem.

About presale, it would ruin our goal to make this project community-owned since we want the supply to come only from staking Kangal.


@Papachill thanks, those are great points!

Yeah, those APR values in the example are not final values for sure, just examples.

About recognition, it would be great to have badges, etc., and is something we can do if we have the resources. The only constrain is time and resources right now because we are not able to delegate the work.

About NFTs, yes we are actually thinking about this, but we thought it could be more accessible rather than only being related to donations. Anyone who holds Kangal and stakes it for the utility token would be able to buy using the utility token they get for staking or buy them from people who earn through staking and decide to sell.

About the lottery, not sure to be honest. We could use the funds for marketing or some other work. As I mentioned, the main problem is that we have limited resources and need to focus on areas that will bring the most bang for the buck. Even running a contest takes a lot of time. We will need to have funds to hire some people for marketing and organizing events probably.


This is great, please help me out with follow-up questions as well if I missed something, you think it is stupid or you want to dive deeper into some of the points.

Thank you, I am very happy that we are finally having some more detailed conversations about our real plans as a community. <3

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Make things simple and attractive for laymen…u r not dealing with techs and fintechs…
Donors will get the most benifits even if we dont give them a penny back. Still if community like we can give donors 10 to 25% of their donation bqck inform of Kangal.

Something more last would be better… lottery is a 1 time thing… badges or ranking system… I dont need them but it would be nice just to have a I donated badge :slight_smile: Perhaps also open donations up on the Binance side… cheaper to donate 10 bucks for 2 cents than it is 10 bucks with a 4 dollar fee. But we need more donations even if they are small! Some benefit to donating would be attractive… People like advantages and if the donors are helping out they should get more than the people who cant spare a dime to contribute. Really it is not that hard to give a small amount. You already own the token.

Also in hindsite… Might have been good to have a small treasury held back from initial coin launch… for these small things like exchanges and marketing… 50k would have done. Maybe we can do that with the utility token.

@Papachill

Yep, badges and ranking would be cool, I also think so. As I said just need time to plan and work on it. We could make them as NFTs as well maybe.

The same wallet address is already usable on BSC side as well, it is possible to send BEP20 tokens.

Yes, I’ve read the litepaper and all of the literature. DeFi is almost a pre-requisite for Token release these days…

When I say vision, direction, I’m talking “identity”. What separates us from every other token? As a community DAO, we have a unique prospective to establish our own purpose. I say this not as a reply to your comment but to the entire community. Who do we want to be?

Beyond, DAO, DeFi, DApps, and NFTs, and other crypto-centric themes. Uniqueness of purpose and Unity of purpose drive growth. KANGAL needs a “purpose”. Something people will rally around.

On the subject of APR, I’m fine if we just want to make Donations voluntary without any incentives attached for now. We can always revisit the subject if we have trouble fundraising in the future.

1 Like

Give us some examples of purpose from successful tokens- then Ill come up with ideas.

Snapshot
Snapshot is a off-chain, gasless, multi-governance community polling dashboard

Tally
Tally is a voting dashboard, aggregating data from defi protocols’ governance and providing it in real-time for research and analysis

Mantra DAO
MANTRA DAO is a community-governed DeFi platform focusing on Staking, Lending, and Governance.

Dogecoin
Dogecoin is a decentralized, peer-to-peer digital currency that enables you to easily send money online. Think of it as “the internet currency.”

Hogecoin
Fun. Deflationary. Autostaking. It’s Doge©, but DeFi.

BITToken
BITToken is for YOU! It is designed to reward members every crypto-community for their contribution and participation in to the crypto space.

KANGAL
Kangal is a meme token and a decentralized community experiment

Identity… …See the problem? (needless to say we are about to list on a global exchange without such an identity)

2 Likes

We are thinking of it as:

“Kangal is a meme token turned into a DAO experiment that aims to create a community-owned decentralized applications ecosystem”

How about:

KANGAL.
Memes. Stickers. Emojis. The DAO Ecosystem that doesn’t end in OGE.

Should we establish a separate chat discussion for this?

Yeah, we could move it to another topic on the forum as well.

KANGAL.
Memes. Stickers. Emojis. The DAO Ecosystem that doesn’t end in OGE.

I really like the structure of it but the content (related to stickers, emojis) is unrelated, would be great if we can add something about community + decentralized applications.

Let’s continue here:

This looks quite interesting and compelling. I agree that it might be difficult to judge its merit by looking at this in isolation. It would be great to have a notion of the $HEEP token emission and overall inflation.

On the subject of staking heep do people adding liquidly get to stake. I think I saw some token that did allow this. Otherwise Id have to pull my liquidity.

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We can make a special staking contract for LP tokens, for sure we would not want people to withdraw liquidity :v:

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Okay, this hasn’t gotten enough love. To wrap up, we will have APR-adjusted versions of the staking contracts. We will decide on the rates when we are close to finalizing that work.