[Proposal] Rewarding TEMP holders $RAFT following a Successful Launch

Raft has quickly become one of the top decentralized stablecoin projects, already reaching $60M in market cap despite no $RAFT token incentives. As the decentralized stablecoin space (within the LST sector) becomes more competitive, it is of the utmost importance that there is a plan for $RAFT to align incentives with the DAO and users.

TempusDAO has been building both Nostra Finance and Raft, and on October 2022 there was a proposal to reward $TEMP holders $RAFT tokens despite the product not being live yet: [Proposal] Rewarding TEMP holders following the launch of Nostra - Proposals - Tempus

Head of Product at Raft has also signalled that $TEMP holders will get $RAFT tokens: https://twitter.com/RTPthefirst/status/1651864627444350976

It is puzzling how there’s a plan for the $NOS token but not for the $RAFT token, when clearly Raft is a more mature protocol. Taking the structure from the $NOS proposal, I propose the following:

  1. TEMP holders will be eligible to receive $RAFT equivalent to approximately 60% of their percentage ownership of TEMP on a fully diluted basis.

This means that, for every 1 TEMP you own, you will receive at least 0.6 RAFT (assuming the fully diluted token supply for NOS will also be 1 billion tokens, which is yet to be confirmed). The staking program will run for a period of 1 years

To be clear, this is not a substitute - the $RAFT you receive is additional on top of any TEMP you already own.

  1. The number of RAFT given to TEMP stakers will be calculated on the basis of currently circulating TEMP and the final numbers may be higher than 60%, depending on how many people stake TEMP.
  2. Staking TEMP will be possible in advance of the release of RAFT. Details about the process to stake tokens will be announced closer to the launch of RAFT.
  3. Tempus SAFT investors and Tempus Labs will be claiming tokens from a RAFT vesting contract on the same basis to receive 60% of their percentage ownership of TEMP and will not participate in staking. Tempus Labs will have no right to issue additional RAFT after the token’s genesis.
  4. Reserve 5% of the supply for a community airdrop to retroactive users.

This would mean that approximately 30% of NOS would be distributed to TEMP holders, 5% as a retroactive airdrop, with the remaining 65% distributed between the Raft treasury, the community and new investors. $RAFT from the treasure will be used for liquidity mining.

I look forward to hearing the Raft community’s thoughts on this proposal.

1 Like

I agree with most points, I would only remove from the proposal the idea of 5% airdrop and that the treasury has to be used for liquidity mining.

It is better for this proposal to focus only on tokens received for $NOS holders, the use of treasury and the % of airdrop can be discussed in another proposal.

At now. Preferably Rart only distributes to users in the Raft ecosystem, expanding the distributed audience contributes to killing Raft users. This proposal is only suitable if at the beginning of 2020