Hey everyone,
I recently started a project called the Rebellion DAO and will be launching soon. I’ll be adding $20k to the LP to get it started over the next few days, but I was hoping to get some feedback first!
**The basics of how it works:**
There are 3 main parts to the protocol & website:
* The new **$REB** token that is the currency of the Rebellion DAO
* **Rebel NFTs** which can only be purchased via $REB and produce $REB on a daily basis as a source of passive income
* **Rebellion Citizenship** which you get by joining the DAO which gives you voting rights & also gives you daily $REB
**The flywheel:**
The idea is essentially that there are several economic levers for the DAO can use to control the price of the token:
* When the token price is too low additional Rebel NFTs will be minted. Since these Rebel NFTs cost $REB tokens, this can be used as a lever to increase the price of the token.
* Citizenship also costs $REB tokens and the output of daily $REB to Rebellion Citizens can be increased / decreased regularly based on the relative price of $REB to fiat currencies.
* When the price of $REB is increasing too quickly the DAO has $REB at its disposal to either sell into the LP and then re-enforce the position in order to decrease volatility or use the proceeds to do buybacks during times of FUD.
*Note: All tokens used to mint Rebel NFTs, buy Rebellion Citizenship, etc.. are actually directly burned, decreasing the overall supply.*
The basic idea of having these levers is to create a more sustainable increase in price over time. Instead of the token going from $0.02 to $100 overnight and then crashing to $2, the DAO can use these levers to create a steady increase in price over the course of a year.
**Long term sustainability:**
The biggest issue is the long term sustainability of this model. As we’ve seen with other DAOs when new investors stop coming in it tends to cause the price to tank. In order to solve this issue the following will be done:
* Build a fully independent EVM blockchain (this initial launch is on polygon) with the $REB token being the native currency so more tokens can be burned via gas fees.
* Create an incubator (20% of all tokens are dedicated to this) to invest in startups that build on the Rebellion ecosystem. This is done for the following reasons
* > Use the equity in these companies as a source of income to further support long term $REB distributions
* > Create companies that support buying / selling everyday goods and services to remove the need to convert your $REB tokens into other currencies removing selling pressure
* Lastly the Rebellion Citizenship model is designed to get a ton of people onboarded onto the protocol getting a little bit of $REB each day. This will ideally make the Rebellion DAO a good user acquisition strategy for companies to an engaged audience with money.
Looking forward to hearing any feedback. I would be happy to give out one of the genesis Rebel NFTs to the most helpful feedback!
No, this seems to be yet another Cashgrab.
If you have the programming skills, why not build a legitimate application? This whole ecosystem is built around making exchanging value as seamless and trust-less as possible…there are infinite real use cases for that.
Instead you want to print useless tokens backed by useless automated jpeg art, to support the ‘idea’ of a new EVM chain that does the exact same thing that ETH, MATIC, and AVAX do, but with zero new value add?
“When new investors stop coming in it tends to cause the price to tank”
You have literally just defined a Ponzi scheme.
I actually believe you have legit technical acumen and know how to write non-boiler plater solidity. If I’m not wrong, then build something real. Or scam people idc
What country are you based in? And are you doxxed?
Selling jpegs is not a sustainable DeFi business. Has nothing to do with finance.
Does anyone have a project with actual real world utility?
>The biggest issue is the long term sustainability of this model.
Yeah, because its just another shitty “me too” token with nerd culture branding and NFTs because thats what all the cool tokens are doing to get adoption. There is nothing fundamentally unique or meaningful about the project. Not even interesting/creative tokenomics.
Wake me up when you’ve got real world assets backing the token, or when we can use the ecosystem to do something useful in the real world.
As a fellow software engineer (+ some experience with Solidity), I’m really interested in how you plan to bring people over, apart from this post. What’s the marketing strategy beyond Reddit and word of mouth?
As I mentioned in other comments, people here wouldn’t be so excited until it is more adopted, so it’s always been a mystery for me about how to get the first people over without being an “influencer” already. You might pay a few, but that’s also risky out of pocket / without actual investors in the projects.
Apart from this, you face the same issue many others have – long term sustainability. For non-utility projects, this is indeed a challenge. But the good part is that eventually it may evolve into something supporting it, you have some ideas already. It just needs the right context on top of what you already have.
Interested to see how it develops from here.
Did you make this protocol all by yourself?
As a fellow developer, I can certainly appreciate the passion and effort that went into this! Are you planning to release the deployment addresses? I am excited to check out how you have linked all of these ideas together in your contracts.
Re tokeneconomics, it is what it is, you probably need to think about this a bit more given the feedback you’ve received so far (which I agree with, sans the tone). In fact, I don’t even communicate / think about my projects’ tokens at all until I get reasonable user adoption for this very reason. It’s easier to prove your token is not “yet another ponzi” once you have proof of value. Keep it up, I’m sure you’ll be able to spin it into a more productive purpose eventually.