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Habitat v2 Tokenomics and Timeline
Sharing ideas, plans and progress of the team.
The core development channels on discord are currently only visible to the team and contributors - therefore the team progress is hard to track from the community side. Habitat is going to adjust by giving you more frequent updates in the future.
Due to past events and new setup and scope, Habitat v2 will come with a new governance token. The following chart shows the distribution of the new token:
Former HBT users and holders will get an airdrop based on their commitment to the project. The 30% allocation suggests strong voting power and impact on the DAO's direction. The airdrop will be vested benefitting small holders first (vesting schedule of max. 3 months). Read more about the airdrop in our past blog post.
You can also find the current token basics in our updated Docs.
15 % of the total supply will be available through a limited token swap. The ETH generated will be paired with v2 tokens to kickstart a DAO owned liquidity position. This benefits the entire community with a liquid market from the start. The team is observing different options to bootstrap the liquidity, further updates are following in the coming weeks.
The biggest share (45%) of the token distribution is controlled by governance. Based on democratic voting between tokenholders, everyone will decide on funding new features, developers, partners, marketing, sub-DAOs and many more.
The core team that is currently working on the prototype and MVP will get in total 10%. These funds are vested for 1 year. A small unvested bonus will be paid out once the milestones above are reached.
All vested community and team tokens can still be used for governance. Full final details on the token design and its distribution are still open for discussion.
⏰ Timeline Estimate
Since Habitat v2 is experimenting with new infrastructure and a new approach of using EIP-2535 for a DAO framework the focus is set on realising the prototype first and then moving to the MVP. While building the app, the core principles are security, utility and transparency for users, to achieve actual benefits for communities - this approach can take time.
The prototype is currently in development. It consists of basic features (proposal voting, ERC-20 creation, treasury management) using the EIP-2535 in its core. You can find more about this EIP on our website. The prototype will be fully functional and usable for all users already. The prototype will still take up to 2 months (June).
The good news, everything the team is building for the prototype can be used for the MVP. The MVP will focus on the dashboard and front-end of the app. It will also include more features, such as sub-treasuries (subDAOs) and delegation.
More features will follow after the launch based on feedback and need of the DAOs joining (launchpad, EVM/rollup deployments etc.) The MVP will take another 2 months after the prototype is finished and released.
The token will be released with the MVP together. To ensure usage and dogfooding of the framework. We hope that the prototype will already create some market opportunity therefore reflecting the value for the token within its governance utility.
Y No VC’s?
Long-time followers of the project know that the Habitat is not involved with any venture-capitalists or other financial angels in the classical sense. The current work relies on grants and community inputs since the start in March 2021.
This path is harder to champion, but it reflects the purpose of the product and the builders behind it: Providing utility and actual decentralised applications for communities and individuals.
This is not about financial rewards, it is about reclaiming your data and ownership. We are glad you are joining us on this pursuit. See you soon!