Weekly Developer Update 29

Gearing Up for the Cosmicrafts DAO

5 min readFeb 21, 2024

The gears of the Cosmicrafts DAO are in motion!

Commanders, the launch of Cosmicrafts DAO is approaching, and as we get ready to turn over the keys to you— it’s time to delve into how it all works. This week, we’re starting with the backbone of any decentralized project: its tokenomics.

Ready to step from player to decision-maker?

This week’s WDU dives into the structure behind the Cosmicrafts DAO

Tokenomics: The Big Picture

Spiral tokens aren’t just another way to buy stuff in-game, trade or stake. They directly impact how Cosmicrafts develops, give you special advantages, and play a role in the project’s long-term health.

Let’s break down the key ways you can put Spiral to work for you:

1. Governance Participation:

Submit Proposals: Got a brilliant idea for a new spaceship, feature, or gameplay tweak?
Cast Your Vote: Every Spiral token you stake gives you voting power.
Earn Rewards: You’ll earn Spiral rewards for voting and helping shape the game.

2. In-Game Utilities

Preferred Currency: Sure, you can use other resources, but Spiral gets you discounts and bonuses on all in-game purchases.
Crafting Boost: Want to build that epic weapon faster? Spiral lets you accelerate the process.
Exclusive Content: Spiral may unlock special gear, customization, and maybe even access to exclusive game areas!

3. Beyond the Game: DeFi Power

Trading Versatility: We’re aiming to list Spiral on various exchanges, making it easy for anyone to buy or sell.
Become a Liquidity Provider: This might sound complicated, but the idea is simple — you can partner Spiral with other tokens to help traders, and earn rewards as a result.
Partnership Program: The more Cosmicrafts grows, the more opportunities open up. Imagine being able to stake your Spiral or Liquidity Pool and earn rewards from other cool projects or even $ICP!

This is just a taste!

Token Allocation: Where Spirals Come From

When we say there’s a total of 1 billion Spiral tokens out there, it’s important to understand where they all start and how they’re distributed. This breakdown is about ensuring a healthy, community-driven project with room for all types of contributors.

Think of it like a pie chart…

Here’s a quick explanation of each slice:

DFINITY Foundation (10%): Our partner in building on the Internet Computer deserves recognition for their ongoing support and contributions.
Team (15%): This fuels the devs, artists, marketers, etc., who work tirelessly to make Cosmicrafts the best it can be. Their tokens are locked up for a while, so they’re in this with you for the long haul.
Decentralization Sale (20%): This big chunk is key! It’ll be open to everyone and a significant portion goes toward the community fund, which is controlled by all of you.
Seed Round (5%): People who believed in Cosmicrafts early on get a portion to thank them for taking that initial risk.
Advisors (2%): We rely on experts in various fields. Their tokens vest over time, keeping them engaged in helping the project succeed.
Treasury (50%): This is the biggest piece and will be managed by the DAO. It’s the fuel for future development, initiatives, and keeping Cosmicrafts growing strong.

Why This Matters

Here’s why a balanced distribution is important:

Community Power: The majority of Spiral tokens are designed to be in the hands of players like you.
Long-Term Alignment: The team and investors are incentivized to make Cosmicrafts successful because their rewards are tied to the token’s value.
Flexibility: That huge treasury gives the DAO the resources to support amazing community proposals, partnerships, and new ideas over time.

Voting Power: Your Voice Matters

The Foundation: Staking is Key

The more Spiral you stake as neuron in the DAO, the more voting power you hold. But we’re not just counting tokens, here’s what else matters:

Dissolve Delay: Staking for just a day isn’t the same as locking Spirals up for months or years. Longer delays increase your voting power.
Age of Neuron: Older neurons (meaning you’ve been staking for a while) also grant additional voting influence and bigger rewards.

Why This System?

Skin in the Game: It encourages long-term investment in Cosmicrafts, rewarding those who believe in the project’s future.
Stability: It helps prevent sudden shifts in decision-making based on whales buying and dumping tokens.
Rewarding Loyalty: We want to acknowledge those who’ve been active in the community for a long time.

Addressing Concerns

We know no system is perfect. Here are some potential issues we’re actively considering and ways to mitigate them:

Whale Control: What if a few big players acquire tons of Spiral and dominate voting? Possible solutions include voting caps or reputation systems that counterbalance pure financial power.
Voter Apathy: What if nobody bothers to participate? We’ll need robust communication systems and incentives to encourage active governance.
Gaming the System: People might try loopholes to gain unfair voting power. Constant monitoring and adjustments are a must.

The Road to True Decentralization

This is a starting point, not a final solution. As the Cosmicrafts DAO matures, we’ll need to refine the voting power system based on what works and what doesn’t.

This is where your feedback is crucial!

Cosmic Wrap-Up

The foundation of the Cosmicrafts DAO is coming together. From understanding Spiral’s utility to exploring how voting power works, we’re venturing deeper into how this decentralized project will thrive. These systems are complex, and we’re committed to getting them right with your help.

Next Time…

We’ll dive into the mechanics of the DAO itself. How will proposals be made? How will votes be counted? Get ready to learn how your ideas could become in-game reality!

Until then, Commanders, we want to hear from you. What excites you most about shaping Cosmicrafts? What makes you hesitate? Let’s build this galaxy together!