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Current state of JuiceboxDAO membership

· 4 min read
Jango

JBX membership is currently represented by 602,065,173 tokens:

Jango has 118,891,959 (19.74%) Peri has 100,255,206 (16.65%) DragonFly Capital has 48,048,000 (7.98%) SharkDAO has 30,063,667 (4.99%) JuiceboxDAO has 27,827,807 (4.62%) 4 addresses each have around 18,500,000 (3%) 13 addresses have between 5,000,000 - 15,000,000 (1-3%) 7 addresses have between 2,500,000 - 5,000,000 (0.5-1%) 28 addresses have between 500,000 - 5,000,000 (0.1-0.5%) 64 addresses have between 100,000 - 500,000 (0.01-0.1%) 56 addresses have less than 0.01%

Membership has been given to those who have helped build the protocol and the DAO, and to those who have supported the efforts by sending ETH to the treasury, with a preference for those who helped in any capacity in earlier funding cycles. Membership has been open to all since the protocol was deployed.

Currently in Funding Cycle #8, each 10 ETH contributed to the treasury by new or existing members mints the following amounts of JBX:

2,579,260 for the contributing member

416,649 for JuiceboxDAO 333,319 for Peri 333,319 for Jango 97,218 for Nicholas 97,218 for Exekias 55,553 for WAGMI Studios 55,553 for CanuDAO

Today, it would take a contribution of 278 ETH for the contributing member to get 10% of the total membership tokens.

Two months ago in funding cycle #4, each 10 ETH contributed to the treasury minted 3,931,200 JBX for the member.

The total amount of JBX issued to members per ETH accepted is decreasing by 10% every 2 weeks. At this current rate with 2 week funding cycles and 35% reserved, in funding cycle #12 each 10 ETH contributed to the treasury will only mint 1,692,252 JBX for the contributor.

Observations

  • Builders and contributors don't know what they're getting when they contribute ETH or are receivers of reserved tokens.
  • Membership is getting expensive.
  • JBDAOs strategy thus far has been to focus on building in the open, while making clear upfront the resources it needs to be able to build effectively.
  • No one in JBDAO has produced much work proposing how we might make membership more accessible to people or distribute it more widely, or why that might be worth prioritizing. Most of what is discussed is about how to solve problems for juicebox projects and for builders who want to come in and improve/grow the ecosystem.
  • The way JBDAO is using its 35% reserved rate ensures about 25% of any membership expansion the DAO makes goes to builders who are currently stewarding projects. If the DAO isn't growing its treasury, committed builders don't become substantial members. The remaining 10% go to JBDAO itself, which it hasn't done anything with yet.
  • The DAO's casual builders and helpers currently don't have a way to become members other than to make a contribution to the DAO of any amount.
  • It might be interesting for the DAO to tapper off its discount rate so that over time, members who consider joining are represented and feel welcome.
  • It might be interesting for the DAO to allocate all of a 35% reserved rate to itself so it can hand out some non-insignificant starter membership amounts to more people who are helping out casually, and to people who are currently cranking out tasks and getting to know the system but don't yet plan on sticking around for too long. The DAO could also give membership to other builders around web3 who might be creative and thoughtful voices to have in the room when determining how the DAO could allocate its treasury.

Open questions

  • How might the DAO distribute its allocation of JBX effectively to add more great members now and into the future?