Introducing DORA: All Tokenomics that you should know

DoraFactory

2 days ago·6 min read

In this article, we will introduce Dora Factory network’s native token, Dorayaki (DORA) to you.

As you may know, Dorayaki is the favorite snack of Doraemon. It’s a dessert with red bean filling between two slices of sweet fluffy pancakes.

Dora Factory produces Dorayaki, and Dorayaki is the fuel of all DAO ventures that perform on-chain governance.

Dora Factory is governed by DORA holders. DORA will be the utility token that binds the network together. Users and holders of DORA can stake, mine and pay DORA tokens. Developers who build will be rewarded with DORA tokens.

The initial total supply of DORA is 10,000,000.

Before we get to the distribution details, let’s walk through the utility of DORA token in the network:

DAO Staking

Every DAO is created by staking 100 DORA tokens on-chain. When the DAO is terminated, staked DORA tokens will be released. Later, when the number of DAOs grows and the value of DORA changes, a fixed staking price might be necessary when a DAO is created. This can be achieved by implementing a price oracle with an off-chain worker, or simply using an existing oracle service provided by some other parachain.

Validator Staking, Mining and Inflation

Dora Factory will first be a POA network, and transfer into an NPoS network when deployed on Kusama. Validators and nominators maintain the parachain by verifying transactions and producing blocks. As a result of that, validators and nominators are rewarded with tokens from inflation. Besides inflation, transaction fees will be distributed to validators and nominators, network fees (tax) collected from users and DAOs will be paid proportionally across all addresses that staked DORAs.

コミュニティの過半数が反対票を投じるまで、インフレ率は年間1,000,000DORAです。したがって、ポルカドット自体とは異なり、これは初年度の10％から始まる線形インフレです。インフレ率は年々低下しています。毎年インフレから生成されるトークンのうち、2％はドラファクトリートレジャリーに送られ、インフレから生成される残りのDORAはノミネーターとバリデーターに配布されます。

ネットワーク料金（税）

パレットは料金を請求することができます。DAOは、パレットを使用するためにDORAトークンを「燃やす」（または料金を支払う）必要があります（無料のパレットがある場合もあります）。DAOによって支払われるネットワーク料金は、ドラファクトリーによって課税されます。税金はすべてのステーキングアドレスに比例して分配されます。

ネットワークリワード

ネットワークは、バリデーター、パレット開発者、ベンチャービルダーに報酬を与えます。バリデーターは、DAOから徴収された税金だけでなくインフレからも報われます。検証者以外のDORAスタッカーには、ネットワーク税が課せられます。開発者はパレット収入によって報われます。

取引手数料

パラチェーン上のすべての取引には、少額の取引手数料がかかります。徴収された取引手数料は、推薦者と検証者に分配されます。

🏡ガバナンス

インターネットSaaSプラットフォームとは異なり、ドラファクトリーは会社ではなくDORA保有者のコミュニティによって管理されています。

2つのガバナンス機関があります。ガバナンスDAOと評議会。ガバナンスDAOは、すべてのDORA保有者のDAOです。評議会は、sudoが削除されるまでプロジェクトのロードマップを担当するコア開発チームです。

The Governance DAO is a DAO produced by Dora Factory. After Dora Factory’s mainnet launch, the governance DAO will be presented on Dora Factory’s client frontend. All DORA holders are members of the DAO, and all staking addresses can vote on issues (we call them “DORA Voters”). There are several situations where governance comes into play.

Approve Major Parachain Mainnet Upgrade

Any major upgrade of the parachain mainnet (parachain consensus, governance rules, mining & staking rules) needs a ⅔ majority vote from DORA Voters.

Approve Community Grants

There will be ongoing quadratic funding grant rounds to support new ideas to improve the infrastructure and creating new pallets on Dora Factory. Community can donate to projects they deem important with DORA and a matching fund will be distributed to the projects based on the quadratic funding scheme. The community grant will be hosted on HackerLink.

Every community quadratic funding grant needs to be approved by a simple majority vote from DORA Voters.

In addition to the governance DAO, Dora Factory has a Council, which is responsible for implementing the roadmap and executing key operations.

The Council also has power to make minor changes and upgrades to the infrastructure, and add pallets based on the procedure of adding pallets.

Adding Pallets

Pallets can be developed either by Dora Factory developers or any community developer (group) from any place. Mobilizing the developer community to invent DAO pallets is critical to Dora Factory. On Polkadot, pallets can be developed and tested freely on local substrate nodes. When a pallet is added to the parachain, its security must be ensured.

A pallet (either developed by Dora Factory core dev team, or by community developers) needs to go through a thorough testing and a security audit before it can be submitted to the Dora Factory testnet. The pallet will reside on the testnet for a certain period of time before it can be compiled into Dora Factory’s Polkadot Parachain. This process is facilitated by the council.

Open Grants

The council also controls an open grant which supports new ideas, schemes and algorithms of on-chain governance, essential DAO pallets, important toolkits. In order to make a decision to issue an open grant, a simple majority must be reached among the councillors.

Bounties

There will be certain features and improvements proposed by users or core developers. An open bounty program will be hosted on HackerLink. Both core DORAs and community projects can issue a bounty. Every bounty is linked to a GitHub issue so that workflows can be managed on GitHub. Many types of cryptos can be used for bounty payments.

Smaller features and improvements that are not within the scope of open grants might be posted as bounties.

Sudo and Election

The councillors will be appointed by Dora Factory Foundation until Sudo is removed. When Sudo is removed, councillors will be elected by DORA Voters. The rules of election will be then hard coded into a governance pallet and be added to the Governance DAO. At that time, Dora Factory will enter DAO governance.

Token Distribution

Dora Factory’s native token is DORA. DORA empowers the DAO-as-a-Service infrastructure. There will be two stages of DORA token.

In the first stage, Dora Factory will issue a standard ERC20 token, DORA.‌ The ERC20 DORA token will be used in various Dora Factory products. The total supply of ERC20 DORA token will be fixed.

Dora Factoryメインネットが起動された後、ERC20 DORAトークンはメインネットネイティブトークンに変換され、第2段階に入ります。この段階で、ネットワークステーキングとネットワーク報酬が開始され、毎年1,000,000 DORAトークンの線形インフレが発生します。これは、ネットワークバリデーターとコミュニティ開発者の助成金に報酬を与えるために使用されます。（注：これは、メインネットが起動された後にのみ発生します）。

DORAの供給と割り当ての計画は、次のように設計されています。‌

• 初期総供給量：10,000,000 DORA
• トークンの配布計画は、以下の表のとおりです。

トークン生成イベント後、DORAの約18％が流通市場に清算されます。

上記のトークン配布計画は、将来、コミュニティガバナンスによって変更される可能性があります。