There is no expectation of profit with the MOONEY or vMOONEY token.
MOONEY and vMONEY are governance tokens, they do 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:
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or acquisition of DAO Coins, and you further agree that any statements made by you or others stating otherwise are superseded by this Agreement;
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statements made by you or the MoonDAO Community outside of this Agreement, especially with regard to profit, are fully superseded by this Agreement;
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:
- 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.
- 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 staked for our governance token vMOONEY.
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.
Obviously you can buy $MOONEY on decentralized exchanges, but we would much rather have you work for us!
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 40 Million $MOONEY released in the first quarter, and then 0.95 that amount released every quarter after that. This is a closed geometric series totalling 800 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:
- 40 Million $MOONEY assigned in the first quarter.
- 38 Million $MOONEY assigned in the second quarter.
- 36.1 Million $MOONEY assigned in the third quarter.
- And so on, infinitely, for a total of 800M $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 assigned to each member will vest over a one year period, conditional on their continued engagement on a MoonDAO project.
The rest of the $MOONEY in the treasury is controlled by the $vMOONEY holders. MoonDAO will never release $MOONEY without the consent of the holders.
vMOONEY (voting MOONEY) tokens are used to vote on MoonDAO proposals.
To receive vMOONEY you must stake your MOONEY tokens here. You will receive $vMOONEY tokens linearly proportional to the amount of time that you stake.
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 in your registered wallet.