Unlocking Rewards: Introducing The BORG Vault
In the ever-evolving landscape of decentralised governance, the Guardians of the BORG community continue to pioneer new ways to engage and reward their dedicated members. The latest addition to their arsenal is The BORG Vault, a unique feature born out of community collaboration and designed to promote active participation in the community further. Let's take a closer look at the specifics of this exciting development.
Monthly Contribution Dynamics
The Guardians of the BORG community thrives on a democratic ethos, allowing community members to formulate ideas and make a contribution. A fourth contribution option, "The BORG Vault," was introduced during the 7th session in October to enhance this participatory approach. Unlike the three predefined options - Burn, Safety Net, and Rewards - the BORG Vault is a testament to the community's commitment to innovation. With this feature, participants lock their tokens into a secure vault for a designated period, currently set at two months, in order to support the project and the ecosystem. In return, participants receive a reward or gift to acknowledge their valuable contributions and active involvement in the community.
Participation Criteria
The exclusivity of the BORG Vault adds an intriguing layer to the community experience. Only participants who allocate a cumulative amount of at least 10% of their Voicing Power between sessions 7 and 8 gain access to this opportunity. This deliberate criterion ensures that those deeply invested in the community's growth and development can partake in this rewarding endeavour. There is also a requirement to have a voicing power of 500 or more!
Furthermore, access to the vault operates on a first-come first-served basis. This approach underscores the community's commitment to maximising the utilisation of the token pool for its intended purpose. To maintain fairness and efficiency, there's a stipulated minimum token requirement for locking, preventing the issuance of rewards that might be disproportionately small. The maximum amount that can be locked is tiered based on the user's Premium tier, ranging from Standard to Generation/Genesis.
Standard: 100 -> 5,000
Explorer: 100 -> 10,000
Community: 100 -> 20,000
Pioneer: 100 -> 30,000
Genesis and Generation: 100 -> 40,000
The total pool size is 15,000,000 BORG tokens, if it were not to be sold out, we would either increase rewards for participants or conserve the tokens for the following session, at Benjy and Dany’s discretion.
It is worth noting that, unfortunately, UK residents are not eligible to participate. We will communicate further on how we will act regarding those who have allocated 10% or more to the vault but unfortunately cannot participate.
Rewards Structure
It's crucial to clarify that the rewards from the BORG Vault are not derived from a staking or yield mechanism. The rewards are also not a distribution of the company’s revenue, but merely a gift transaction that participants will receive for their contribution to the ecosystem at the end of the two-month locking period. The value of this reward will be slightly lower than 1% of the total locked amount. Importantly, the tokens locked in the vault still contribute to the calculation of Voicing Power during the Guardians Sessions occurring throughout the locking period.
When Vault?
We plan to open the vault in early December, with 48 hours for eligible people to decide whether to participate. Then, the two-month lockup period starts, and the tokens will be released at the end of the event.
We expect that the vault will sell out with between 60% to 80% participation rate, depending on the involvement of the larger holders. Unfortunately, this number could go down if our Guardians decide to purchase new tokens to participate in the vault!
Seizing the Opportunity
For those eligible, the opportunity to participate in the BORG Vault is within reach. Navigate to your app now to explore and engage with this exciting feature hidden inside the BORG asset page. If you're not currently eligible, don't miss out, ensure you allocate at least 10% of your Voicing Power in the ongoing Guardians of the BORG session to position yourself for future vault offerings.
Your voice matters in shaping the destiny of the Guardians of the BORG community.
