For context, please see the discussion on Discourse: https://www.nilgov.xyz/t/nip-08-drop-tokenomics-revision/181

The results of this proposal, if approved, will go into effect for curation cohort #2. Cohort #1 will remain with the original tokenomics structure unless the creators explicitly wish to go this route.

Proposal

• $NIL is the de facto currency for the Nil ecosystem. Primary sales of Nil drops are done with $NIL by default, with an option for creators to mint with $ETH in exchange for a 7.5% DAO fee.
• NIL Minting:
  • Creators are paid in $NIL and will still receive 100% of the revenue for their drop, in this case in the form of $NIL.
    • Creators will now set their mint price and supply during the curation phase.
  • Buyers use $NIL to mint. The mint price is determined by the creator payment divided by the total supply of the collection.
  • The creator mining pool will be repurposed for drop payments. An equal amount of $NIL will be generated as the total $NIL revenue for the drop. Of this generated amount (outside of the rewards allocated to curation and referrals), 50% of the $NIL is burned with the other 50% added to a pool reserved for creator payments of free mints.
  • Creators can choose to allow free mints, receiving a 50% lower total $NIL payout, but lessening the amount of votes needed during the curation process. This can be a great mechanism for lesser known creators to get their name out to a welcoming community, but still be rewarded for their creations.
    • Free mints may have different requirements, but can leverage some of the mechanisms already existing in the NIl ecosystem (i.e. Karma score, liquidity providers, stakers, etc.)
• ETH Minting:
  • Creators can still choose to use $ETH as the minting currency, but this will require a 7.5% fee on minting revenue which is shared with the DAO.

Motivation

• Leverage the $NIL token to its full power as the currency of the Nil ecosystem
• Empower emerging creators to release free mints while still being rewarded in $NIL payments
• Provide the community with an opportunity to mint NFTs with their $NIL tokens or potentially free based on certain requirements (as described above)
• Bolster liquidity for $NIL

Do you support this proposal?