We just got done with another SNGLS DAO meeting and an interesting idea has been discussed that we wanted to turn over to the community and see what they thought.
There is a discussion of removing the transaction fee if you hold the SNGLS token. Conversation right now is revolving around if we should make it protocol layer or application layer based. The team is leaning towards protocol, but there are possible tokenomic issues.
You can check out our notes here: https://github.com/SingularDTV/snglsdao-pm/blob/master/sngls2.0-project-calls/call_006.md
It’s a proven business model but there are no content distribution portals that we know of that are doing this. If anyone knows of some we would love to know what you know.
If you want to watch the video, the conversation about this start at 12:24
Discussion with Vlad Suciu in Cluj: How can the “average joe” use the token if they aren’t doing content mining?
- Looking at ways to incentives using the token
- Having the token makes it so you won’t have to pay the protocol transaction fee or application transaction fee
- Should it be protocol layer or application layer?
- PROs of Protocol layer implimentation
- allows the feature to be driven to all UIs that are built on top of the protocol
- Will also create another parameter that the DAO will have control over as the amount you will need to hold will be voted on by the DAO.
- CONs of Protocol layer implimentation
- Could hurt the tokenomics of the system, but there could be more than enough liquidity being driven to the DAO treasury through other means.
- Business Models: Like BNB or IDEX coin on exchanges where you don’t have to pay an exchange rate on the exchanges if you hold the token