CP_25-012: Coinage $PLYBTN Read/Watch/Own

Coinage, the first community-owned Web3 media outlet to win a YouTube Silver Play Button, is celebrating with our community by fair launching $PLYBTN.

In launching this memecoin experiment, some people are flagging a few things that differ from historical norms as we broke with tradition by fair-launching the largest Solana memecoin on PinkSale in the last two months. One of those things is that Coinage did not seek to obscure how many tokens we held in the fair launch (unlike other projects which may bundle amounts in various wallets.) Despite the fact we haven't sold any of our $PLYBTN holdings, it has nonetheless spooked some traditional memecoin participants.

As such, this proposal seeks to augment concerns people may have (which may be well-founded on historical precedent set by prior memecoins) by bringing Coinage's DAO holdings more in-line with other projects to ensure this is a fair experiment. Furthermore, this proposal wishes to avoid issues that may stem from inadvertently administering these tokens from our existing holdings to places where they may wind up being re-sold.

To that end, this proposal would:

• Immediately burn 10% of the tokens held by Coinage's DAO wallet by sending them to a burn address, taking roughly 86 million PLYBTN tokens out of supply. (Is this number arbitrary? Somewhat, but it begs the question -- how do we automate this so we don't just pick arbitrary numbers moving forward?)

As such, in addition, this proposal would:

• Enable the board to calculate and establish monthly burns based on the aggregated views earned each month on our social channels (e.g.: YouTube, where this experiment began, and X.)

• Enable the board to direct previously approved marketing buffer funds to establish a simple page that tracks the above mentioned burn.

Finally, this proposal would:

• Allow the board to explore similar voting infrastructure to Snapshot that may exist in the Solana ecosystem that may allow $PLYBTN holders to express non-binding opinions in a way Coinage once allowed for Subscriber NFT holders that is separate and distinct from anything that may conflict with existing member votes.

In its totality, this proposal seeks to bring more attention to the $PLYBTN memecoin experiment in a way that is aligned with Coinage's overarching mission as a community-owned Web3 media outlet. Furthermore, the idea of this proposed READ/WATCH/OWN mechanic accomplishes this in a way that is more directly tied to the collective sentiment of how the market (i.e.: viewers) choose to independently speculate on an automated burn based on how $PLYBTN holders may consume our content rather than through any efforts of the Coinage DAO/Coop.

To be clear, we would not be doing so to bolster any public expectation of profit. And we would, as this is a forum for our members, be letting our members know of our intentions. Should this proposal not pass, we will not move forward with these plans.

There are many ideas over what to do with the other $PLYBTN tokens we hold. As always, feel free to bring discussion to our token-gated TG channel.

NOTE: In order to vote, a wallet must now hold a Coinage Caucus or Network NFT. Our Caucus and Network NFTs allow holders to join our DAO/Co-op. To co-own the fastest-growing Web3 media outlet, you can mint one now. Become an official DAO member to become eligible for voting and patronage dividends. By minting, you will stand alongside the co-founder of Netflix, and other Web3 leaders today!