Pioneers: In the Black
In part 1 of the benefits of Pioneers, we discussed the main reason for being a Pioneer: to determine the direction of this new Internet, ensuring it doesn’t end up duplicating the problems we have on today’s internet–whatever you perceive those problems to be.
But let’s face it, your time isn’t free. Being a Pioneer takes time and consideration. Whether it’s content moderation, policy-making, or voting on new policies, you are spending your time, and more importantly, your care and consideration, making the tomiNet a free and open web. For that reason, Pioneers have a built-in compensation system for all of those who participate in governance of the system.
Multiple payback mechanisms
Pioneers are rewarded in multiple ways:
Initial minting of every Pioneer entitles the Pioneer to 18,000 $TOMI tokens, which are received immediately upon receipt of the Pioneer NFT. The tokens are awarded both to the initial 1500 Pioneers at $3000 each, and to the daily Pioneer auction winners.
Improved yields in the tomi liquidity pools. tomi maintains liquidity pools from the outset to back the $TOMI issuance. Liquidity mining yields will be set for different lock-up periods. Anyone who holds a Pioneer for the entirety of their staking time will receive a bonus Pioneer reward on top of their liquidity pool yields.
Governance rewards. The DAO will initially set up a fund for those who take the time to participate in the governance process. The rewards will be split among those who take the time to sponsor good proposals, vote on proposals, and provide feedback that improves the proposals to the DAO.
Profit bonuses. As the ultimate owners of the tomiNet, the Pioneers are able to issue themselves dividends or revenue shares after year 2, based on the profitability of the tomiNet.
As the controllers of the tomiNet governance systems, the Pioneers are able to update the rewards systems to appropriately compensate themselves for their contributions and time spent on the network.
DAO treasury
The DAO treasury is the primary resource that is available to the Pioneers for allocation of their funds. The following four sources of funding are initially issued as the budget that Pioneers have to work with. Some of the money is earmarked for specific work, but there is always a significant amount of money that can be used for governance rewards, ensuring that the people who do the work behind the scenes are fairly compensated.
Sources of the DAO treasury:
$10,000,000 annual budget earmarked for the tomiNet operations.
40% of the fees from purchase of domain names through the tDNS.
10% of the fees from the Appeals Committee for content moderation DAO.
50% of transaction fees on $TOMI as implemented for transactions on the network.
The Pioneers themselves will manage the DAO that decides on the rate and extensions for the domain names that are put on the market through tDNS, so there is a self-regulation mechanism built-in. Similarly, while the initial price per URL is $70, that can be updated by the Governance DAO populated by the Pioneers.
These multiple sources of income for the DAO ensure that there will be adequate funds for the ongoing development of the tomiNet and for appropriate compensation of the Pioneer members for their work in maintaining a democratic governance system for the entire network.
Who are the Pioneers?
The first drop of Pioneer NFTs will be on the 10th of January, 2023, and will include only 1500 NFTs. The daily auction of three Pioneers per day means there will be 2595 Pioneers issued by the end of the first year. In the second year the issuance increases to seven per day brings the total to 5150, and thereafter an additional Pioneer is auctioned daily.
Therefore, when you purchase a Pioneer you become part of a fairly small group of people who have power in the tomiNet. 5000 people is much larger than most governmental bodies of the world, yet small enough for each individual to have real influence on the system.
We fully expect the Pioneer NFTs to increase in value, especially as the network grows. As a Pioneer, you will see the upside primarily as an owner with the profit-sharing capability in the network, aligning the thriving of the network with the long-term value of your holding of both the Pioneer and the $TOMI tokens.
If you are ready to become one of this group, get signed up right away. The initial sale is only a few days away, and if you miss it, you have a chance every day to purchase a Pioneer through the open auction.
