Community Rewards
A number of rewards, perks and recognitions will be made available to those in the community earning $YRX. In this chapter we discuss some of them:
Node Reliability. The $YRX holdings of a node owner is will be one of the factors used when ranking nodes for priority access on in the network. More $YRX results therefore in more $YOM when running a node.
Governance. High $YRX results in more voting power during DAO decision-making. Special abilities like putting forward proposals will be made available to the highest $YRX holders.
Airdrops. YOM will be negotiating and incentivizing our partner projects to provide drops and whitelists for our loyal members.
Access. For product launches and builds, top $YRX holders will receive early access.
Social Recognition. Holders of $YRX get unique badges and perks after logging in into one of the YOM experiences.
Leaderboard
As a nod to classic gaming and Web3 systems, leaderboards of various durations (weekly, monthly, all-time) will be posted and made available to the community.
DAO as a Cooperative
There exists a legal model to capture the flexibility of a limited company with the organization structure of an association. It is called a cooperative. According to the internation cooperative alliance, it is "an autonomous organization of individuals who voluntarily unite to pursue their common economic, social and cultural needs and aspirations through an enterprise which they jointly own and democratically control."
Based on this model of the cooperative we can define a type of Decentralized Autonomous Organization called a Decentralized Cooperative Association. A DAO can provide a lot of benefits to crypto communities with added legal compliancy:
A DAO allows for easy registration and transfer of (NFT-based) membership
A DAO is allowed to share profits with its members
A DAO shares the protection of a limited company
A DAO allows for the decoupling of voting from financial stake
The key takeaway is that in contrast to a DAO, where members are usually limited to voting, in a DAO users partially own the intellectual property and by extension partake in revenue sharing.
Purpose of the DAO
The goal of the DAO is to create a scalable and open organization where all stakeholders (commercial and non-commercial) are represented correctly and can collectively own and govern the platform.
Our strategy with the DAO is to continuously acquire equity in YOM via the sales of NFT-based memberships that allow buyers to partake in profits. This way YOM can grow its ecosystem, while it is increasingly being owned by its members, represented by an DAO-elected board of officials.
$YRX Memberships
There will be different types of memberships and perks that community members can earn. We will allow users to earn their membership by getting past certain $YRX tresholds.
| Treshold in $YRX | Role | Description |
|---|---|---|
T.b.a. | T.b.a. | T.b.a. |
Assigning Special Roles
One of the responsibilities of the DAO is assigning roles to key community members. These include:
Moderators gain the ability to moderate players by rewarding Explorers for social behavior or temporarily banning them if they do not comply with the elected community policies.
Commissioners, representing the quality assurance committee, who gain the ability to approve or disapprove new content on the platform.
Cardinals can propose new community policies and receive a seat in the board at YOM. Their policies get reviewed before public.
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