Summary

As part of ongoing efforts to overhaul ALD tokenomics (see previous forum posts and associated Snapshot votes spearheaded by Aladdin community superstar Tao) the Aladdin team proposes to vote on, and roll out key tokenomic changes (as well as some extensions which the team will propose) on a step-by-step basis rather than all at once.

Furthermore, under this approach, the team proposes to begin in phase one with one of Tao’s simple, clear proposed changes: drastically cutting the ALD maximum supply. Currently the maximum supply of ALD is set at 1B tokens. We propose to change the hard limit here to 150M (which is < 5M more than the current supply).

The phases to follow phase one will deal with how token emission for the final <5M will be handled, with new proposals made for each phase that will start from Tao’s hard work baseline.

Motivation

The ability to continue to emit ALD tokens is not needed under the tokenomic model that we are moving towards, and cutting the hard-coded maximum supply will help provide certainty to token holders. Additionally this change brings the misleadingly high fully diluted value (FDV) of Aladdin in line with the current market cap.

Proposal

Set the ALD maximum supply to 150M.

Poll

For: Implement phased ALD tokenomic revamp beginning with phase one as described
Against: Do nothing. Back to the drawing board.