A reminder that Bao holders automatically own a vault of 15% of all upcoming franchise tokens

Can some provide more insight into what this means?
“A reminder that Bao holders automatically own a vault of 15% of all upcoming franchise tokens.”

1 Like

It means that 15% of the token supply of each franchise will be stored by the treasury. The community will be able to vote for how they are used, but they will likely stay in the vault and be used for governance and any other benefits that come with token ownership.

5 Likes

Everyone please book this for the inevitable Reddit thread 3 years from now when the public says there was a lack of transparency :D

2 Likes

What do you mean? Everything will get votes on by the community. We discuss decisions publicly in the form of a proposal on the forum. After sufficient discussion the proposal is altered or put to a vote. I don’t understand how much more transparent you could possibly get.

If there is any vagueness in answers from the team its because we don’t get to decide exactly what happens.

Right now all we know is that there is going to be a vote whether to release the franchises after testing is finished with 15% token supply being owned by the community governed treasury.

At a later date we may then discuss and vote to implement fee capture, which would lead to the 15% of tokens owned by the treasury being staked. Staking would likely lead to us owning more than 15% of the supply… now we get to vote what to do with the extra. We could vote to sell the excess and distribute proceeds to BAO stakers, or we could vote to compound the gains.

We really are trying to be as decentralised as possible, and unfortunately that means some unknowns with some aspects of how we will be working in the future.

3 Likes

Just a joke. The meaning was no matter what you decide, somebody on Reddit is going to complain

3 Likes