Project Name: The Degenaissance (LIT)
Number of COLLAB tokens requested: 882,602
Recipient and Holding Address: LIT Team Multisig- 0xAcb879a303c71241897cc3a6612362719Ea34d0a
Firstly we would just like to express our gratitude to Collab.Land for the amazing opportunity. At present we are forming the governance framework for our cultural DAO, which is where we will continue to build projects that elevate artists and artistic expression of all kinds and reward our community for their efforts in pushing the boundaries at this intersection of art and technology. As we seek to establish and continue partnerships with other great brands in Web 3, we believe Collab.Land is perfect for us to continue on our journey.
We propose to allocate the tokens in the following way:
100% to be distributed to the community through LITDAO and other various engagement & participation initiatives. We will break down the allocation into which are, but not limited to the following areas.
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50% to go to the LITDAO Treasury to enable LITIZENs to have a direct impact in the success of Collab.Land and Collab DAO. Proposals can be generated and implemented to incentivise ways for future methods of on-chain distribution, project and partnership development.
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50% for Community initiatives to stimulate growth, engagement and education
Community Based Events and Giveaways (10%)
Collab.Land Engagement (10%)
User Retention (15%)
Education, Tools and Resources (15%)
Timeline:The timeline for this deliverable will be approximately 12 months based on the estimated development of an on-chain distribution method as well as the testing and implementation of DAO governance framework.
User group being targeted:Firstly, rewarding the most active and loyal participants of our Discord community measured by set parameters using in-house KPI metrics.
Secondly, more digital artists, developers, builders, authors and other Web 3 creatives as we look to expand the ecosystem.
How many users is this distribution projected to incentivize?
A starting point of 10,000 users based on current Discord members, as well as dedicated marketing efforts following the launch of LITDAO & upcoming projects to establish growth in user numbers.
How will this distribution incentivize usage and adoption of Collab.Land?
The Degenaissance utilizes Collab.Land for all Discord user role assignments and forms the basis of community. Our methodology has always been to reward NFTs to our LITIZENs based on their loyalty, so as we develop future NFT projects, we will encapsulate these via the use of the Collab.Land Bot driving further utilization.
What is the benefit of this distribution?
To Collab Land:Collab.Land can be used to give rewards to users who authenticate more than their token (using their NFTs, etc.), therefore the more tokens they own the more "loyal" they are to LIT and using Collab.land to verify that is in-line with both of our visions.
To Our Community:Our community will have the opportunity to partake in Collab DAOs governance forging new relationships and experiences. It also provides the opportunity to reward loyalty and incentivise activity within Discord.
Will your project provide any co-incentives?
LITDAO members will have voting power measured by their proof of participation and therefore we could introduce a Discord role that will award future benefits for their activity in relation to Collab.Land and its ecosystem.
Where will tokens be held once distributed by Collab.Land DAO?
Initially, 100% of the tokens will be held in LIT Core Team Multisig until a delivery mechanism is ready to distribute to our DAO for its 50% portion of the allocation. A lockup period of a minimum of 4-6 months will be instilled to ensure our community can demonstrate that the governance structure is sound.
The remaining 50% will be held in a LIT Core Team Multisig to utilize the initiatives we have outlined above.