ReserveDAO Whitelisting Criteria
Over one month of feedback has been incorporated into these revised criteria! Snapshot voting links will be provided. Time to set sail…
ReserveDAO is being built to “Buy the Bank”. The DAO’s vision can be found here, and your fellow DAOists are excited to see that you are interested. The roadmap is progressing, and we are now at the stage where whitelisting criteria is to be memorialized and voted upon by the community.
Where the initial stages included deciding on what platforms to list and how much to raise, here is where the community can share and lock in their thoughts on how long-time holders, activists in different channels and the infrastructure providers can be compensated for their time, energy and effort.
What is a Whitelist
Whitelisting can have a number of connotations in crypto, but perhaps is most aptly defined as a list of cryptocurrency addresses that are afforded certain rights and privileges separate and apart from other wallet addresses. For unFederalReserve’s ReserveLending+ product, whitelisting means entities are permissioned to participate in the pool-to-peer ecosystem.
In the case of ReserveDAO, people or entities that make the whitelist will get direct treasury allocations of tokens, the ability to purchase tokens at a discount or some combination thereof. The criteria to make the whitelist is detailed below, and the manner in which the discounts will be realized is TBD depending on the platform used to launch the project.
RSRV is the governance token for the DAO. RSRV holders who are U.S. accredited investors will be able to participate in the direct governance of the DAO. Any holders that do not meet that criteria are encouraged to find a legal mechanism to achieve such representation or support by proxy those individuals that are enabled to participate.
The DAO itself will be a Wyoming DAO. This structure is a form of Wyoming LLC with unique operating agreement language tying the holding of RSRV to the voting eligible LLC ownership units.
The following table is a draft breakdown of the initial RSRV supply:
The whitelisted tokens will be distributed or accessible as part of Stage I and II 3.33% and 21.67% bucket, respectively, or the first two rows down. The entirety of the pool may not necessarily be absorbed by whitelisters, and recipients will be subject to the lock-up conditions. The manner with which the lock-up will occur is TBD, and subsequent documents will reflect policies and procedures as they are finalized. A separate ReserveDAO medium channel will also be created to host those announcements surrounding the DAO.
To All Great Ships and Those That Sail Them
In keeping with the nautical theme, we have designated classes of whitelister based on different classes of ancient sailing vessels. The below criteria is subject to change and confirmation by the community. Take this opportunity to review the classes of whitelister and the requirements. If you have comments, questions or suggestions about ways to improve the whitelisting criteria, please use the Telegram or Discord channels to expand on that feedback.
To translate our short-hand, below you will see the ship name, the defining characteristic of that ship type, and the whitelisting reward.
The whitelisting criteria as described in the article, is posted here again with a little more clarification. Remember being a longterm holder automatically qualifies you for Level 2 or Level 3, this is dependent upon the date at which you began holding eRSDL.
Level 1 Ships — 100k-399.99k eRSDL
- Sloops = 10% increase on yield rewards + 5% Discount on Token Launch + 1% Discount on Bonds
- Schooners = Sloop Qualified+ TG Groups = 15% increase on yield rewards + 5% Discount on Token Launch + 1% Discount on Bonds
- Brigantines = Schooner Qualified + Twitter Action = 20% increase on yield rewards + 5% Discount on Token Launch + 1% Discount on Bonds
Level 2 Ships — 400k up to 999.99k eRSDL OR Long Term Holder (TxHash before October 31, 2021)
- Square-rigged Ships = 25% increase on yield rewards + 10% Discount on Token Launch + 2% Discount on Bonds
Level 3 Ships 1mn+ eRSDL OR Extra Long Term Holder (TxHash before May 31, 2021) OR Pro-Bono work performed
- Galleons (Ship of the Line) = 30% increase on yield rewards + 15% discount on Token Launch + 4% Discount on Bonds
Let’s restate the goals of the DAO. Thank you for taking the time to read-through the criteria, and we wish to remind you that you are ReserveDAO. The ReserveDAO is a community without defined central leadership. The goals, participants and structure can be influenced and changed by you as much as it can by anyone else engaged with the project. Make sure to vote and have a great day.
- Buy a U.S. Treasury-chartered bank or a large enough equity interest to have control of the products the bank offers.
- Maintain healthy liquidity, including short-term liquidity needs for ReserveLending, ReserveFunding, and the upcoming, ReserveB2B.
- Provide stronger incentives for unFederalReserve ecosystem participants via attractive eRSDL and RSRV Protocol Owned Liquidity tokenomics.
- Provide more tokenomic options (Protocol Owned Liquidity), market levers, and stability in times of market volatility for our ecosystem.
- Reduce any perceived risk from our TradFi partners via a strong Treasury liquidity budget for each product in times of market volatility or accelerated growth.
- Provide greater liquidity reserves for ReserveLending+, ReserveFunding, and RB2B launch bootstrapping, fostering accelerated growth in 2022.
- We all know a bigger and cost-efficient “war chest” de-risks a start-up’s ability to execute for larger and more traditional finance customers.
About Residual Token, Inc. dba unFederalReserve
In business since 2018, Residual’s team of former bankers, technologists and compliance professionals have been exploring ways to make crypto lending and borrowing markets safer and traditional markets more efficient. They currently have in development a handful of blockchain-based software available for license. Its flagship product, ReserveLending, allows permissionless access to crypto holders so that they can deposit, earn and borrow top digital assets safely, easily and effectively for cash management, hedging or speculative purposes.
ReserveDAO is a to-be-formed Wyoming LLC in DAO form. The initial purpose of the DAO is to provide liquidity for various unFederalReserve projects and buy a bank (or take a preferred equity position in a bank.)
Although the material contained in this website was prepared based on information from public and private sources that Residual Token, Inc. d/b/a unFederalReserve believes to be reliable, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and Residual Token, Inc. expressly disclaims any liability for the accuracy and completeness of information contained in this or any article.
This article, our website, social media posts and other public forum materials are distributed for general informational and educational purposes only and is not intended to constitute legal, tax, accounting, or investment advice. The information, opinions and views contained herein have not been tailored to the objectives of any one individual, are current only as of the date hereof and may be subject to change at any time without prior notice. Residual Token, Inc. does not have any obligation to provide revised opinions in the event of changed circumstances.
All investment strategies and investments involve risk of loss. Nothing contained in this website should be construed as investment advice. Any reference to an investment’s past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.
Any ideas or strategies discussed herein should not be undertaken by any individual without prior consultation with a finance, tax or legal professional for the purpose of assessing whether the ideas or strategies that are discussed are suitable to you based on your own personal objectives, needs and risk tolerance. Residual Token, Inc. expressly disclaims any liability or loss incurred by any person who acts on the information, ideas or strategies discussed herein.