April 23, 2022

[Notes compiled by envy##9950]

“If creating a secondary token, what is the actual need for a token in this ecosystem?”

if we do introduce some kind of economic system within this program, everything needs to be fit appropriately rather than putting a new token out without necessary thoughts surrounding implementation
introducing a new token should serve as a driver of value throughout an ecosystem - “how is this token moving value throughout the ecosystem?”
“is it creating necessary value to users?” “is it necessary to move things around the ecosystem?” (ex, powering gamefi actions)
community NFTs - strongest idea to build momentum - generator of value for treasury and community, build reputation, credibility, connections, reach throughout the ecosystem, get people interested in NETA and related ventures
commonwealth post’s secondary token numerics were a draft on how one could be implemented - biggest problem is that we have nothing to give out to stakers, LPers, project managers besides what we accumulate from NFT sales - no more NETA can be created
need to be able to give out something as an incentive
if you didn’t get dropped NETA and weren’t speculating, there’s no reason at the moment to buy it - nothing specifically being dropped exclusively to it

Possible to use something like JUNO as a secondary token without creating our own?

would either need some degree of control over the secondary token’s development/roadmap or enough to be able to influence its governance to a measurable degree

need ways for a regenerative treasury independent of community action
DEX is a very proven way, but other ways can help build a treasury directly derived from NETA’s value
potentially use funds from treasury to buy small amounts of NETA back - similar to Terra buying BTC as reserves for LUNA/UST - begin treasury based in NETA and start buying other things
without regenerative value, tougher to build without giving developers equity in projects
ways to create value without having to give something else up immediately
ultimately need to have control over our own interests, reduce dependency on other structures

risk-averse, reliable profit
backtesting necessary against overall NETA price
would run against NETA/JUNO LP on Junoswap (NETA price derives from this), could run indefinitely and alleviate sell pressure
profits could be routed to treasury, would be an independent way of getting funding for other projects started

Validators

“Create new validator?”

can work, could even get whitelisted with someone like kingnodes already running validators
getting in active set is the problem, ~1m JUNO minimum

Partner with existing validator?

easy to partner, numbers could work out, but still dependent on the goodwill of someone not necessarily part of the DAO or NETA community
since we’re using this as a means of bootstrapping ourselves, a wrong move could damage NETA (DAO) reputation
would need to partner with someone big enough that they’ve established but not so large and independent that a partnership wouldn’t be mutually beneficial
could start on smaller chains in a less competitive validator set to avoid kicking people out of active sets
offered whitelist deal with null from kingnodes to do a NETA validator around a 30% share, Notational also possibly an option
could be easier with a “bootstrap” deal as groups like these have trusted skillsets and are proven good actors
would allow for easy and trusted passing of validator keys based on possible DAO decisions (ex, DAO votes to transition out of running a validator for a chain)
- need to have a contingency plan for long-term validator planning as DAO members are always changing

DEX

long-term, a DEX would be a likely path for self-determination in securing NETA’s interests and liquidity
- presently bound to Junoswap and Osmosis, their interests will not always be aligned with our DAO’s
- at any moment, people could vote to remove incentives or remove token altogether from existing DEXes
- if we don’t see other avenues proving to secure NETA’s value, it’s a guaranteed way to do so
not necessarily a matter of redundancy or competition, but what could we offer to stand out if we decide to go down that route?
- as more CW-20 tokens start being created, we’ll never be able to keep up with everything nor compete properly with Junoswap/Osmosis (Frontier) as they already curate to some degree
possibly a “meta-DEX” or gaming DEX dealing with sub-tokens for gamefi or NFT projects (plays to the community accelerator angle)?
- DEX with NFT staking LPs?
  - Loop Finance on Terra has this - can merge NFTs with LP positions
  - could potentially fall into a security - selling something representing value or shares in something

Twitter Communication

Promote Discord on @NETA_DAO?

soft endorsement - asking for devs is too early, don’t want to sound desperate, don’t want to sound like we’ve got things ready when we don’t
mainnet DAO deployment is not at all ready
in the meantime, encourage people to continue working on ideas
promote development, say there’s stuff happening in the Discord, it’s not necessarily all-encompassing of the NETA community, don’t promote anything speculative
suspenseful or playful Tweets/promotion that doesn’t hint at anything or create undue expectations but encourages people to come into the Discord

@Junonews Thread Feedback (PDF)

community feedback from people not necessarily involved in the Discord - gauge what’s important to those not necessarily as engaged
“…creating incentivized events for onboarding quality teams to build on the chain” - “Hack NETA” initiative?
- would take a different form from Hack JUNO as it isn’t its own sovereign chain but could act by example and strengthen other CW-20 tokens
- could be done at the same time as a Hack JUNO initiative - opportunity for cooperation, strengthens NETA’s image even if no direct profit