CRE8R DAO 2.0 [GOD MODE]
First off GOD MODE was chosen to honour the Gods of Mt Olympus sacrifices will be made, tribute will be paid. We stand on the shoulders of giants, this is the way.
What is CRE8R DAO?
CRE8R DAO was founded in June 2021 by a group of DeFi content creators with the goal of…
Just two degens with a dream :)
The goal was to create an opportunity for marketing content creators to have a place to monetize their platforms without the need for them to do sales pitches and chase payments for services rendered. The idea was that they could focus on the content and have the heavy lifting of business development and sales spread out across the DAO.
This model works! As evidenced by the 14+ clients we have serviced over the last 5 months.
This format has also been proven to be more efficient for the crypto projects themselves. They get content creators via a single channel of communication and marketing strategies from a dedicated project manager familiar with the creators that will do the work. This is in stark contrast with the old way of approaching and negotiating with individual creators.
This model is also more transparent, professional, and ethical.
CRE8R DAO uses a democratic payment system by utilizing Coordinape to distribute payments to the creators. This tool allows the DAOto reward work that is quality and filter out work that is sub par by giving the contributors of the project the ability to assess each other’s work and assign value to it.
As things stand, these payments have been done via stablecoins (USDs) but this has proven to be not ideally capital efficient as most of the value that entered the DAO as payment for services has left the DAO as payment to creators.
The DAO, being DeFi experts from their extensive need to research and explain protocols, searched for ways to retain this value. We have settled on the Olympus DAO model of a fractional reserve currency.
Enter CRE8R DAO 2.0 [GOD MODE].
What is CRE8R DAO GOD MODE
CRE8R DAO has been taking on USDs, network tokens like $ETH, and client governance tokens as payments for our services. But we have to use those tokens to pay our creators and admins.
This means that we are either unable to accept full payments in client gov tokens or if we do we have to sell them a month later to pay creators. This means incentives are not long term aligned with clients.
GOD MODE changes this by using the above tokens as backing for a fractional reserve currency ($BRICK). This enables us to hold a balanced portfolio of the above tokens while still paying out our creators in a currency that they can either sell or stake for high apy.
Now we can take on larger amounts of client governance tokens as a balanced % of total treasury and hold them long term while staying closely aligned with our clients goals. Clients get the added benefit of having a new use case for their token alongside having a DAO, with voting power, that intrinsically understands what they do (because we create content explaining their protocols) engaged in governance.
The fact that we can take larger payments in governance tokens means that early DAOs/Projects that do not have large reserves of stablecoins can make larger payments to CRE8R DAO knowing that those tokens will not go back to the market in the form of selling.
CRE8R DAO will be able to influence & capture the upside of many early projects through this mechanism. While limiting risk by holding a balanced portfolio for network tokens and USDs.
So it’s just another Olympus fork?
We have one of the most compelling use cases for an Olympus style treasury and reserve currency. We have a need to align our incentives with our clients, thus the bonding mechanic is a great way to take on this alignment but still allow for the payment to our creators. We have the need for a token that can be used to pay DAO contributors and content creators.
Payments for these actors will still come out of payments from clients as before, but in a different manner than taking USDs and sharing them with the actors that need payment. Instead, when a client gives us governance tokens for their protocol, we won’t need to sell them for USDs, rather we can deposit a share of them into the treasury as backing for the BRICK needed to make internal payments, and the rest will be deposited as supply for the staking APY runway.
What is the Founding 100 NFT?
The F100 NFT is granted to creators that have earned $5000 via Coordinape by working on internal work or client campaigns.
Each NFT gives:
1 vote over CRE8R DAO matters via snapshot
62,000 $CRE8R tokens
There are approximately 40 NFTs claimed. Leaving 60 remaining.
Since the NFT launch, it has also been possible to purchase the NFT. The price rose periodically with each sale and at each new coordinape epoch. It started at 1ETH and now has a current price of 10ETH.
What does the CRE8R Token do?
This token was created for the purpose of rewarding Founding 100 NFT holders with ownership over the DAO.
The CRE8R token:
Governs the CRE8R DAO 2.0 GOD MODE systems on every chain via snapshot voting.
Gets airdropped $BRICK (GOD MODE version of OHM) on every new chain we launch on (plans underway for Fantom, Polygon, & Ethereum).
Gets a share of the $BRICK that is minted as profit every time a bond is purchased.
There is less than 1% of the $CRE8R supply circulating — all the Founding 100 NFT & multisig allocations are vested for 1 year.
5% in this balancer liquidity bootstrapping pool, go ape it:
What does the BRICK do?
First and foremost, the $BRICK functions as the payment token for both creators & other roles within the DAO. So it is very important that we have deep protocol controlled liquidity and can use reserves to ensure that all work is paid handsomely.
The holders of BRICK have 3 simple choices.
Sell the token — we ensure that our payments can be realised via deep protocol control liquidity.
Stake BRICK for a share of the high APY.
Use them in bonds to get a discount on more BRICK.
We ensure the above by accepting $BRICK paired LP tokens as bonds. We will own the vast majority of the liquidity making it possible to sell with low slippage. The USD value of $BRICK will be taken into account when setting the campaign budget and adjusted according to market conditions. If additional $BRICK is required to ensure creators are rewarded with above market rates for their work we will use the $BRICK in reserve from a share of the bonding fees which are the DAOs profit.
What will we bond?
Each chain we launch on we would generally have their network token as our first reserve asset. So on Fantom we would have our primary pool as fBRICK/FTM
Client token bonding options
Selected client tokens paired with stable coin/client token
Network token/client token
Single asset bonding with client token.
These options will be explored in negotiations with potential clients and decided on by governance / policy team in order to balance the treasury portfolio.
Once clients have kicked off the bonding it will become available for the public and discounts will be controlled by the policy team / governance. Bonding of client tokens are NOT guaranteed to be perpetual.
Who is building GOD MODE
Every member of CRE8R DAO is welcome to contribute in whatever capacity makes the most sense. The below list of roles is a work in progress and will be updated often over the coming days.
Lead developer (full stack dev): 0xkowloon (CRE8R DAO MULTISIG & Dissecting DeFi Protocols Author)
Supporting Solidity Dev: Currently in negotiations with devs who have extensive experience managing the Olympus system pending Copper LBP TBA
Frontend Devs: Currently in negotiations TBA
Business Development: Ceazor, Dunks 411
Treasury Management Strategist: Ceazor
Policy Team: Bowtied Wallaby
Currently in negotiations with several policy teams on prominent Olympus based projects.
Marketing & Content Team: CRE8R DAO :)
Community Managers: Bee, Fugu, Bowtied Nerd
Payments in the form of both $CRE8R & $BRICK allocations are available for the above roles.
Partnerships and Collaborations
Because we are constantly working with new protocols we are well placed to find new use cases for $BRICK such as these examples.
$BRICK as collateral on lending platforms such as 100 Finance (CRE8R DAO client)
$BRICK Boosted pool on Spirit Swap (CRE8R DAO client)
Alongside use cases for $BRICK via partners we are also well placed to create opportunities to deploy our treasury to earn yield and collaborate on marketing efforts with the platforms where we do so. This methodology/tactic aligns strongly with our content creation services because we are putting our clients tokens to work using strategies that are also available to the public. For example we take $HND or $BPRO (CRE8R DAO clients) as bonds. And then deploy those tokens to the latest farming/lending opportunities. The same goes for network tokens or other yield bearing assets generated by our clients protocols.
Being able to show how CRE8R DAO is investing and leveraging tokens related to our clients projects is a very strong way to support our clients with real skin in the game. This is authentic content marketing in action where we put our money where our mouth is. It is one of the things that excites us most about the GOD MODE model.
CRE8R DAO 2.0 [GOD MODE] - CRE8R - Medium
December 2, 2021