MoonDAO

Governance Tokens

Nov 08, 20245 min read

There is no expectation of profit with the MOONEY token.

MOONEY is a governance token for the purpose of claiming voting power (sometimes referred to as vMOONEY). It does not represent fractionalized ownership. Governance includes the ability to guide the DAO’s mission, values, and operations of MoonDAO, as well as the allocation of resources to projects that the DAO supports. Governance tokens have no expectation of profit. Any contributions to MoonDAO are not tax deductible at this point in time.

When you make a contribution to MoonDAO, or otherwise purchase or acquire any MOONEY tokens, whether directly from the Community, via an exchange, or otherwise, you represent, warrant and agree as follows:

  1. You agree that, even if profit does arise from your contribution or from the acquisition of DAO tokens, you nevertheless have absolutely no expectation of profit from any contribution or acquisition of DAO Coins, and you further agree that any statements made by you or others stating otherwise are superseded by this Agreement;

  2. For the avoidance of doubt, you agree that any and all statements made by you or the MoonDAO Community outside of this Agreement, especially with regard to profit, are fully superseded by this Agreement;

  3. You have an adequate understanding of the functionality and characteristics of DAO Coins and the differences between DAO Coins and other currencies;

None of our messages constitute investment advice, please do your own research. Crypto and web3 involve emergent and rapidly-developing technology and there is always a risk of unforeseen issues could impact us. Although we feel strongly that we have made everything as secure and foolproof as possible, we feel that it’s important to inform the community that these are possible risks:

  1. Despite the many layers of protection we have in place, the Gnosis Multi-Sig wallet could be affected by theft, loss of keys, or fraud.
  2. While the community has thoroughly vetted all smart contracts and our contribution platform and treasury has been previously battle-tested with millions of dollars secured, there is always the possibility that a smart contract could be hacked due to an unknown vulnerability.

$MOONEY Token Characteristics

The $MOONEY token launched on Friday, December 17, 2021 on Juicebox. The funding period lasted for one lunar cycle and ended on Sunday, January 16, 2022 at 3:18 PM EST.

There will only ever be 2.6 billion tokens. We will never mint more $MOONEY tokens. MOONEY tokens are the only tokens that can be locked for voting power.

Approximately 50% of the MOONEY tokens are in the MoonDAO treasury. These tokens will be released on an infinite geometric series to incentivize members to work on MoonDAO Projects.

Contract Addresses

$MOONEY on Ethereum Mainnet: 0x20d4DB1946859E2Adb0e5ACC2eac58047aD41395

$MOONEY on Polygon (POS): 0x74ac7664abb1c8fa152d41bb60e311a663a41c7e

$MOONEY on Arbitrum One: 0x1Fa56414549BdccBB09916f61f0A5827f779a85c

Locked $vMOONEY on Ethereum Mainnet: 0xcc71c80d803381fd6ee984faff408f8501db1740

Locked $vMOONEY on Polygon (POS): 0xe2d1BFef0A642B717d294711356b468ccE68BEa6

Locked $vMOONEY on Arbitrum One: 0xB255c74F8576f18357cE6184DA033c6d93C71899

Geometric Release Schedule

On a quarterly basis the DAO will get a list of all the active projects that were completed in that quarter. There will be a geometric release of the total $MOONEY token over time. With 15 Million $MOONEY released in the first quarter, and then 0.95 that amount released every quarter after that. This is a closed geometric series totaling 300 million $MOONEY for contributors over an infinite period of time. The amount will be released on a quarterly basis (every three full moons) as follows:

  1. 15 Million $MOONEY assigned in the first quarter.
  2. 14.25 Million $MOONEY assigned in the second quarter.
  3. 13.5375 Million $MOONEY assigned in the third quarter.
  4. And so on, infinitely, for a total of 300M $MOONEY.

DAO members will vote on the proportion of the release of $MOONEY that is sent to each project by token weighted voting, or whatever governance mechanism the DAO selects, with the precedence between the two being the latter.

This incentive structure began on Q4 2022. The $MOONEY will be locked for four years and given in the form of delegated $vMOONEY that they can unlock after it has vested. See: Project System for more details.

The rest of the $MOONEY in the treasury is controlled by the voting members. MoonDAO will never release $MOONEY without the consent of the holders.

Voting Power Characteristics

Voting power is a measure of impact a member has on collective decisioning, and we’ve made it easy to join and claim your voting power. Simply visit the Join MoonDAO page in our app, select your membership level, and follow the guided process.

Advanced users can purchase any amount of $MOONEY via Uniswap and lock some or all of that for any amount of time between one week and four years. You will receive voting power linearly proportional to the amount of time and amount of MOONEY that you lock.

To prevent sybil attacks, you may only have one wallet registered to vote on MoonDAO proposals. Your voting power is calculated as the square root of the total tokens you have locked.

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