IP-8 Introducing the .alpha token

Summary:

The next phase of the Internship: .alpha. We are proposing a token-based DAO model that will govern Alpha and the treasury.

Interns will be able to burn their NFTs in return for the .alpha token. Alpha will continue to grow as we allow the rest of the mass community to merge with us. This gives us the ability to retain and grow our position without needing to purchase more mass.

Details:

There will be 12121 .alpha tokens allocated to Internship NFT holders. 1 Internship token can be traded for 1.1338341405555 .alpha tokens when burning their internship NFT. 650 .alpha tokens will be allocated towards liquidity. The 650 .alpha / 75 ETH pair will be forever locked into uniswap v2, and stored within the treasury wallet. This will remove 75ETH from the treasury to allow for a liquid position of Alpha, leaving 25ETH for an $ASH buy.

The new token model allows for four important things:

The new token model opens up the Alpha NFT to the wider pak community
The liquidity provided by the DAO will allow members to enter and exit their positions easily
This token model is a close representation to the $ASH model, as users are able to arbitrage the price of Mass. This in return balances the price and scarcity of mass tokens as they continue to get merged with the Alpha token.
Allows for the DAO to begin earning revenue by charging new mass transfers a 5% fee, which is stored within the treasury.

Non-internship holders will be able to mint .alpha tokens at a price of 1 mass = 1 .alpha token. These new mass transfers will be charged a 5% fee for joining the .alpha DAO and receive .95 for every mass they send into the DAO.

We will not be accepting any mass over m(10) initially, and will scale to a m(50) limit as the market allows for it. This ensures that large mass holders are not able to dump into the liquidity pool.

These tokens will be stored within the treasury for the members and team to use for community based initiatives. The 5% is split between DUO (1%) and URN (4%). We have partnered with DUO to build out the new utility for URN, starting with .alpha.

Specification:

URN launches the .alpha token on the Ethereum network. 75ETH will be paired with 650 .alpha tokens to provide liquidity on Uniswap, then the LP token is stored back within the DAO treasury.

Interns will then be asked to burn their NFTs in return for .alpha tokens. .alpha is also opened up to the community for others to merge with, and the treasury begins to earn revenue for the DAO.

*Note, this IP supersedes a part of IP7, as we are only dedicating 25 ETH to an $ASH buy.