Raid Guild Token Overview – HackMD


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tags: token

# Raid Guild Token Overview

:::info
🚨 UPDATE: see the *[final section](https://hackmd.io/717lQpcBR0e233f6E4d2DA#Roll-out)* for the latest on how we’re going to roll out the token.
:::

#### The idea behind the token design is to create a tight feedback loop between three core objectives:
1. Value created by Raid Guild for clients / demand for our services
2. The market value of the token
3. Funding for web3 public goods

#### We have a several ancillary goals:
* Reward Guild members for the value they’ve created thus far and the risks they’ve taken in joining such a new kind of organization
* Secure alternative sources of funding to hedge against lower client activity in a bear market
* Expand our reach and engagement with, and incentive-alignment with the broader community
* Deepen our relationships and further align incentives with our clients

#### We strive to avoid the following:
* Creating a purely meme token (no DOGE-killers here)
* Selling a security
* Dilluting control of the Guild itself beyond the our membership

## How does it work?

#### A. When the Guild sells the token, the proceeds go to a pot of funding earmarked for the Guild to use to build/maintain web3 public goods.
For example:
* Maintain wrapeth.com
* Evolve and maintain smartinvoice.xyz
* Productize our internal tools for other orgs to use
* etc

The initial sale will be a Gnosis Auction, with 65% of the supply available for purchase in the auction and 35% distributed to a mix of Guild members, the Guild itself, past/present clients, etc.

The supply is fixed/constant.

#### B. Holders of our token can exchange it for priority access to our services.
For example:
* Get to the front of the line for a consultation (via an ongoing auction)
* Keep the Guild on retainer
* Investor access to client demo days
* Access to the #-client-arena channel
* etc

When tokens are spent in this way, they are then recycled and are split between several destinations:
1. A re-sale bucket, for periodic auctioning to the market via a similar mechanism as (A)
2. A rewards bucket, for periodic distribution to the token-holder DAO as a reward for staking and governance — see section \(C\)
3. others TBD

#### C. Holders of our token can also decide to stake it as tribute for shares in a token-holder DAO. That DAO is responsible for deciding how that pot of funds is spent.
* Funds are held in a special minion that can only send funds to Raid Guild
* Anybody can create a proposal to spend funds on a particular web3 public goods project
* The members of the DAO vote on whether to approve the funding

For details and notes, see [this doc](https://hackmd.io/649YYqgCSTuI2dH-U0s8mA)

## Roll-out

At first, we will be launching a stripped down version of RAID.
– This version will be focused on the “access” component (part B from the previous section)
– access will be constrained to the consultation auction queue
– Distribution will be exclusively via airdrop to guild members, clients, and others who have interacted with the guild
– We will not (yet) be selling the token (part A)
– Nor will the token be used (yet) to govern allocation of funding towards guild-built web3 public goods (part C)

Compared to launching with all of the planned components, launching with just the access component has the following advantages:
– less pressure on / risk from a large initial sale
– more flexibility to experiment, observe how the token is being used, and evolve
– focusing on a single objective will increase the chances it succeeds
– simpler launch and easier for the community to understand. we can layer on use cases and other components iteratively

The downside, of course, is that we don’t get an immediately influx of funding for web3 public goods. But we still maintain the ability to do exactly what have planned (parts A and C) at a later date.

In other words, we’re opting for a longer-term, more gradual, and less risky approach.

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