About Craft Economy
Craft Economy is building an economy server in Minecraft. The Craft DAO is responsible for governing Craft Economy, its revenues, and foundation. Additionally, it is responsible for managing the on-chain assets, including but not limited to; it’s treasury, marketing budget, yield and liquidity positions, etc.
Craft Economy Airdrop will be airdropping free CRAFT tokens to various Cosmos ecosystem stakers and LPs. The snapshot has not yet happened and users who stake AKT, OSMO, ATOM and JUNO, ION holders, Chandra Delegators and Delegators to Atom relayers, Craft Economy Genesis Validators and Craft Economy Beta Participants by the snapshot date will be eligible for the airdrop.
How To Join Age Of Craft Economy Airdrop
First Step
Craft Economy will be airdropping free CRAFT to various Cosmos ecosystem participants.
Second step
Eligible participants include:
1. AKT, OSMO, ATOM and JUNO stakers
2. Users who’re providing liquidity to ATOM/OSMO or LUNA/OSMO pairs on Osmosis
3. ION holders
4. Users who’ve delegated to any Chandra Station validator on any network
5. Users who’ve delegated to the Craft Economy genesis set on their networks of choice
6. Craft Economy Beta Participants
Third Step
The snapshot has not yet happened so there’s still time to participate in the airdrop by completing any of the above tasks.
Fourth Step
For more information regarding the airdrop, see this tweet.
Craft DAO
A Decentralized Autonomous Organization (DAO), is an organization that is managed and governed by its stakeholders. The Craft DAO is governed by its stakeholders, EXP delegators. The Craft DAO is responsible for governing Craft Economy, its revenues, and foundation. Additionally, it is responsible for managing the on-chain assets, including but not limited to; it’s treasury, marketing budget, yield and liquidity positions, etc. EXP earns the inflationary rewards from the Craft token, the revenue generated within Craft Economy, and the yields within the Craft DAO.
RevenueThere are two primary revenue categories for the Craft DAO
- In-game revenues
- On-chain revenues
In-game Revenues
Within the Craft Economy server, there are two primary in-game revenue streams.
- Services–> Players pay for teleport across map, use of a pre-build template, etc
- Taxes–> Players pay taxes for properties they own, business taxes, etc
50% of the gross revenue is shared to the DAO, and distributed once daily at EPOCH. For a detailed look of how in-game revenues are allocated please view In-game Revenues.
On-chain Revenues
The Craft Economy Airdrop will acquire a variety of on-chain assets voted on by EXP delegators. Example assets, including but not limited to: DeFi protocols, DEX tokens, Cosmos ecosystem tokens, NFT’s, etc
- DeFi protocols, to generate consistent yields to fund further development, and provide a stable base to the Craft Economy and DAO, etc
- DEX tokens, to fund CRAFT liquidity pools, generate yields for EXP delegators, etc
- Cosmos ecosystem tokens, to generate yield from staking, gain exposure to other IBC-enabled communities, etc
- NFT’s, to gain exposure to other NFT communities, etc
The yields and profits generated from the assets will be distributed to the DAO in the manner proposed at point of acquisition. (I.e The yields generated from a liquidity pool may be immediately distributed, compounded, diversified, etc. This depends on the proposal). For detailed information on how proposals work Proposals.
Governance & Staking
DAO members (EXP delegators) will govern the DAO. By staking EXP to a validator, individuals will be rewarded the revenues and inflation shared to the DAO. The DAO is governed through a proposal system. Individuals or groups will create a proposal to the network, the network will have 7 days to vote, and a simple majority wins (50%).Categories for governance proposals such as (but not limited to):
- Asset Acquisition, decisions relating to which assets the DAO should acquire outside of CRAFT. Including things such as OSMO to fund DAO managed liquidity pools, UST to create stable coin yield pools, etc
- EXP Distribution, decisions relating to how much EXP should be distributed to certain proposals, asset acquisitions, etc
- In-game Activities, decisions relating to in-game tax rates, fees for services, how the revenues are allocated within the DAO
- NFT releases, decisions relating to NFT releases for land, skins, artwork, custom blocks, etc. And how the releases should be incentivized (including asset acquisition and EXP distribution)
- Marketing Pool, decisions relating to how to allocate the marketing pool, and how much revenue to direct to the pool in order to keep it operating
- Treasury Fund, decisions relating to how to manage the treasury of CRAFT, including things such as capital formation, burning, etc.
Tokenomics
There are two tokens within Craft Economy, CRAFT and EXP. The CRAFT token functions primarily as an in-game currency and has an inflationary curve. However, unlike traditional cosmos-sdk chains, the inflation is paid to the secondary token EXP.EXP is the DAO token, and earns CRAFT based on the revenues generated from in-game activities and on-chain assets held within the DAO. EXP is non-inflationary, non-transferrable (therefore “unpurchasable”), and is minted and earned in perpetuity.
EXP
EXP is the governance token of the Craft DAO. It has an unlimited supply, and is minted and distributed daily at EPOCH. For detailed information on how the Craft DAO works, Craft DAO.
Craft Economy Airdrop can be acquired through various actions within the network, including but not limited to: purchasing NFT’s, participating in governance, providing liquidity, etc. This is all at the discretion of the DAOEXP is not a transferrable asset, and does not trade on a secondary market.
