Re-balancing Mission 0: Fairness, Strategy and ENOKI distribution
Your mission is to hatch the Enoki DeFi Club.
A forager may choose, by their own free will, to harvest $ENOKI-yielding Mushrooms in favor of their $SPORE rewards. Holding $ENOKI lends one many powers, as you will soon discover, forager.
Re-balancing Mission 0
After taking a closer look at the numbers and possible outcomes, we’ve re-balanced the Mushroom pools, with the intention of a more inclusive, rewarding and exciting of a hatch.
As our first measure, we’ve increased the initial yielding rates by more than 150% in some cases. The reason for the increase is twofold: 1) To build more excitement for the upcoming launch. 2) To increase the number of possible outcomes for the hatch. The Mission 0 Brief has been updated to reflect the changes.
As our second measure, we’ve changed the doubling or halving rule to 1.5x and halving in order to prevent over-saturating the supply.
Possible outcomes of the hatch
Due to the unique nature of our pools, it’s hard to provide an exact look at what the distribution of $SPOREs and $ENOKI will look like.
Enoki’s Mushroom farm is different. Each week, foragers holding $ENOKI can vote to double or halve the yielding rate of each pool. This gives foragers the powers of incantation and dissipation, powers once reserved only for devs.
Some things ARE set in stone:
- 6% of distributed $ENOKI and 10% of burnt $SPORE will be allocated to the development team
- Remaining burnt spore (90%) will be sent to the DAO
- Each pool has an initial yielding rate, according to risk assumed by the forager
- A voting period occurs every 7 days, at the end of which each pool’s yielding rate is either multiplied by 1.5x or halved.
- Mushrooms may only be harvested INSTEAD of $SPORE rewards. They may not be purchased with spores.
- Mushroom yielding rates are constant. Their lifespan will randomly fall between a determined range when minted. Mushrooms keep their lifespan until staked.
- If there are remaining mushrooms after the pools stop emitting, the Mushrooms are locked until the DAO decides appropriate action.
- If all 210,000 $SPOREs are harvested, emission stops and The Enoki DeFi Club continues to Mission 1
1. Halve every week
If $ENOKI holders decide that they want to choke the $SPORE and $ENOKI faucet as soon as possible, they may organize to halve the pools every epoch.
Doing so would result in the emission of 11,480 $SPORE rewards by week 12.
2. Multiply every week
If the pools are exponentially crowded and $ENOKI holders want to expand the community more quickly, they may organize to multiply the pools every epoch.
Doing so would result in the emission of all 210,000 $SPORE rewards by week 8 or 9.
3. Mixed scenario
It’s more likely that the distribution of $SPORE will look like one of these graphs. Some pools multiplying, some halving. The graph on the right lasts for over 15 weeks without emitting all 210,000 $SPORE.
Why multiply?
One might ask, “Why would I want to dilute my $SPORE if I’m already a hodler?” And that’s a good point, from a myopic investor’s point of view.
What brings true value to The Enoki DeFi club, and any decentralized organization for that matter, are the members that comprise it. Unless you plan on doing all the legwork it takes to bring value to $ENOKI holders, it would make sense to open new avenues of entry.
More SPORE in circulation also means more volume. Which brings liquidity providers profits aside from their $SPORE, Mushroom and $ENOKI rewards.
Why halve?
Apart from the obvious reason of limiting the circulating supply, halving could serve a number of purposes.
- Perhaps a group of whales become heavily invested in the ETH pool after the yielding rates increase. $ENOKI holders could dissipate their influence.
- A solid group of members form and decide to temporarily limit the expansion of the DAO.
- If you have other reasons, please share them!
Why hold my Enoki?
Apart from the opportunity to hold space in The Enoki Forest, a digital-first cultural hub within DeFi, Enoki hodlers enjoy a multitude of benefits:
- 300 ETH and 5000 $SPORE locked liquidity vested to vote on and manage
- 90% of burnt $SPORE from Mission 0 to continue inoculating DeFi with
- Access to a holders-only VIP area to discuss and guide the direction of The Enoki DeFi Club
Where do I go from here?
Most productive discussion around The Enoki DeFi club occurs on our Discord. Read up about the pools here, prepare some brew, and ready your tokens for the grand hatch of The Enoki DeFi Club.
Join our Enoki DeFi Club 💬
- Discord: https://discord.com/invite/FC8J35T
- Website: https://enoki.finance/
- Twitter: https://twitter.com/EnokiDeFi
- Telegram: https://t.me/enokidefi
