Should CCS Mint a New Token?

Purpose of this document:

• Synthesize our progress thus far since the crowdfund
• Propose vote for a new token to continue ensure the longevity of CCS

Background

Crypto, Culture, & Society’s (CCS) initial focus was simple: “a discussion group exploring the impact of crypto on culture and society, and turn the discussions into articles for a journal.” We invented the concept of a learning DAO to solve the education trilemma of pedagogy, business model, and community.

In our first Semester, we delivered on the promise of discussion groups & publication, galvanized a larger audience with our building liberal arts for crypto post, and created a diverse environment for intellectually rich conversations. You should all be proud of playing a role in making this happen, whether you actively contributed or simply helped fund our mission. Thank you 🤗

As we look forward, we have a massive opportunity to improve on what we just delivered and rethink learning communities from first principles. We can change the modern perception of liberal arts and re-establish it as a foundation for not only creating a better web, but also participating in society and culture. We can create teams from our incredible talent to conduct research and design differentiated educational experiences for other protocols to grow our treasury.

We’re just getting started on this crazy idea. To get there, we need to properly incentivize new contributors with proper funding.

Token Restructuring

When Graeme started the crowdfund, he retained 10% (2777) of the genesis $SOCIETY token supply (27777) as a creator. He generously offered to distribute most of that to Semester 1 co-leads and contributors to ensure the longevity of the project, leaving himself with 932 tokens.

To capitalize on the opportunity that lies ahead, we plan to mint a new token that allows CCS to become self-sustaining, launch new projects and compensate contributors, speakers, semester NFT holders, research, and more. The initial token’s purpose was governing Semester 1 and this token will govern CCS’ future initiatives. All treasury allocations will be voted on by the DAO, including this one!

We propose to create a new token where 15% of the supply goes to current $SOCIETY holders while the DAO retains 85%. The treasury will be invested in activities such as:¹

• Semester NFT sales
• Full-time employee pool, contributor pool, and speakers
• Treasury diversification

Logistics

• The DAO will mint a new ERC-20 token with a supply of 10,000,000 ($CCS)²
• Every wallet holding $SOCIETY will be airdropped 54 units of the new $CCS token for every 1 $SOCIETY it holds.
• The remainder of the $CCS token supply will go into the CCS treasury.
• $SOCIETY will lose its utility including access to the private Discord, governance voting, etc.

Footnotes

1. Treasury budgeting will be voted on by the DAO. ↩

2. $CCS is used here for illustrative purposes. We'll align on an official token name soon. ↩