READYgg designed a token “market making” process that occurs in stages. The aim is to:
Generate early capital to establish a market value for the $RDYX token via private sales.
Use the capital raised to a) fund Ready team expansion necessary for building and supporting the ecosystem and b) create a price floor for $RDYX that can translate into the first Ecosystem Fund grants for devs, creators, and players.
The presale cycle is divided into two phases:
Pre-seed: these are the earliest investors, receiving advantageous financial terms.
Seed & strategic presale: future tranches of private investors, at a markup from the pre-seed sale.
Based on the progress of the presale, and the ecosystem uptake during the presale phases, READYgg then envisions a public sale. The financial floor set in the pre-sales is used to determine the price at public sale launch. The public sale will be carefully controlled. It is estimated approximately 1%-2% of the token supply will be made available in an initial public sale.
Governance vesting to a DAO
Governance is designed to move towards a true Decentralized Autonomous Organization (“DAO”), it is essential that in the early phases of the transition, READYgg ensures governance stability in the ecosystem’s nascent phases. Thus governance vests independently of the actual stakeholder contributions in the Staking Vault.
With regards to the staking system, the goal is to move over a three-year period to a decentralized organization by 2025. Governance vesting occurs in time-based tranches:
In addition to governance rights, staked $RDYX generates “Staking Rewards”. Staking rewards are funded out of the Ecosystem Fund.
Note: any rewards for staked player objects related to FuseBlocks contracts are not envisoned to include governance rights.
Phase
Rights
Version 0 - Q2 2024 / Token generation event
None. Decisions in the first phase are handled by READYgg.
Version 1 - Q3 2024
$RDYX holders can stake their tokens through the staking mechanism and participate in governance votes brought forward by Ready.
Votes in this phase primarily focus around which devs and creators should receive token incentives to join the ecosystem, from the Ecosystem Fund.
Version 2 - Q1 2025
More votes related to smaller issues.
Ready continues to control what comes up for a vote.
Possibility to expand voting methods to normalize between smaller token holders and larger token holders (e.g. Potentially changing the way votes are being counted from 1 token 1 vote to Quadratic voting.)
Version 3 - Q1 2026
Decentralized Organization
READYgg no longer controls the voting agenda.
$RDYX holders determine which governance framework should be used and how much should be voted on. Some decisions will not be up for debate such as token supply which is iron-clad in smart contracts.
Potential things that can be voted on:
Should the ecosystem continue to pay Ready to develop and manage it?
Should other utility tokens be directly integrated into the ecosystem?
How should the Ecosystem Fund continue to operate?
Holder | Purpose | Vesting | Ownership |
---|---|---|---|
Pre-Seed Investor
Initial token presale. Targeting $2m in capital raised.
Monthly unlock over two years at public sale.
8%
Seed Investor
Second token presale; targeting $2-$3m raise.
Monthly unlock over two years at public sale.
5%
READYgg Preferred Equity
Distribution for equity investors in Ready Makers, Inc.
Four years. 6 month cliff. Monthly vesting thereafter.
11%
Team
Incentives for team.
Four years. 6 month cliff. Monthly vesting thereafter.
19%
Advisors
Institutions and individuals advising on the creation of $RDYX.
Four years. 6 month cliff. Monthly vesting thereafter.
4%
Community Treasury
Financing vehicle. Source of future presales, and public sale. Liquidity pools.
DAO / Team decision
28%
Ecosystem Fund
Dev/Creator/Player rewards Staking rewards
4 year vest, monthly
25%
Total
100%