The DAO treasury

The Slice treasury on Juicebox explained

by Jacopo

Cover image of treasury post

The DAO treasury on Juicebox is responsible to fund the development of the Slice platform.

By sending ETH to the treasury you'll receive an amount of SLX (ERC20) tokens proportional to the contribution, which will allow you to participate in Slice’s future decisions. The tokens can also be used anytime to redeem part of the treasury's overflow funds, effectively handling refunds.

Initially, the treasury will issue 650k SLX tokens for each ETH contributed. This amount will gradually decrease by ~20% every 30 days, so the next funding cycle will reward about 520k SLX for 1 ETH, the following one 416k SLX and so on.

The SLC and SLX tokens (ERC20)

To clarify, Slice has two ERC20 tokens:

  • SLC: a utility token which can be obtained by redeeming ETH from a slicer. Slicer owners will be able to spend them on the Slice platform in various ways, for example to level up their slicers.
  • SLX: a governance token representative of the contribution made on the DAO treasury. It can be redeemed for a part of the treasury's overflow funds, and in the future will be used to vote on DAO decisions (combined with other mechanisms TBD).

Treasury configuration

The first funding cycle will have no set duration and a target of 10 ETH.

Once the target is reached, there will be 14/30-days funding cycles with a 10-20% discount rate.

  • On every new cycle, the discount rate will decrease the number of SLX received for the same amount of ETH, thus rewarding early contributors.
  • The bonding curve will be initially set at 65%, incentivizing long term holders.
  • The reserved rate is set at 35%, effectively reserving part of the tokens minted to the team actively building the platform. The team of contributors will grow over time.
  • Premined tokens will be issued to compensate the work done before the launch of the treasury, as well as to establish a reserve to reward early contributors with SLX tokens.
  • After the first cycle the reconfiguration strategy will be 3-day delay, thus preventing any sudden change in the treasury configuration.
  • Payouts will be divided among those who contributed during each funding cycle.
  • Project ownership will initially be delegated to me, while in the future will be transferred to a multisig wallet owned by core contributors.

I also highly encourage to check out this post for examples and detailed explanation on Juicebox configuration options.

Note that contributing on Juicebox should not be considered a speculative investment, but a way to support the project and take part in its decisions.

For any questions related to the treasury or its configuration please reach out on discord, and when you're ready to officially join the DAO contribute on Juicebox ✨.

But seriously, join the DAO side. We have 🍰