m3taversal
d4a8cfe22d
Sanctum (6 records):
- 4 full text backfills + 2 new (Logo Change CLOUD-0, Mobile App Wonder)
Dean's List (8 records):
- 6 full text backfills + 2 new (Treasury De-Risking, Liquidity Fee Structure)
ORE (4 records):
- 2 full text backfills + 2 new (USDC-ORE Boost, Sublinear Supply Function)
coal (4 records):
- 4 full text backfills
URL migration (75 files):
- All proposal_url fields migrated from dead futard.io to v1.metadao.fi
- Pattern: futard.io/proposal/{key} → v1.metadao.fi/{project}/trade/{key}
- futard.io returns 404; v1.metadao.fi returns 200
Pentagon-Agent: Rio <5551F5AF-0C5C-429F-8915-1FE74A00E019>
69 lines
3.8 KiB
Markdown
69 lines
3.8 KiB
Markdown
---
|
|
type: decision
|
|
entity_type: decision_market
|
|
name: "ORE: Adopt a sublinear supply function?"
|
|
domain: internet-finance
|
|
status: passed
|
|
parent_entity: "[[ore]]"
|
|
platform: "futardio"
|
|
proposer: "proPaC9tVZEsmgDtNhx15e7nSpoojtPD3H9h4GqSqB2"
|
|
proposal_url: "https://v1.metadao.fi/ore/trade/5YA1NbUJWmGLorWtpTzBMfsMFLKa37oxb7pHwH7wSz9L"
|
|
proposal_date: 2024-11-18
|
|
resolution_date: 2024-11-22
|
|
category: "mechanism"
|
|
summary: "Reduce ORE supply cap from 21M to 5M tokens and implement 10% annual emissions reduction, creating scarcer distribution than Bitcoin"
|
|
tracked_by: rio
|
|
created: 2026-03-24
|
|
---
|
|
|
|
# ORE: Adopt a sublinear supply function?
|
|
|
|
## Summary
|
|
ORE approved a fundamental change to its tokenomics: reducing the supply cap from 21 million to 5 million tokens and implementing a 10% annual reduction in emissions rate (replacing infrequent halvings). The new curve reaches 50% dilution by ~year 5, 90% by ~year 18, and full dilution by ~2052. This makes ORE an order of magnitude scarcer than Bitcoin when fully diluted.
|
|
|
|
## Market Data
|
|
- **Outcome:** Passed
|
|
- **Proposal Account:** 5YA1NbUJWmGLorWtpTzBMfsMFLKa37oxb7pHwH7wSz9L
|
|
- **Proposal Number:** 2
|
|
- **DAO Account:** 7XoddQu6HtEeHZowzCEwKiFJg4zR3BXUqMygvwPwSB1D
|
|
- **Duration:** 2024-11-18 to 2024-11-22
|
|
|
|
## Supply Schedule
|
|
| Year | Circulating | Dilution |
|
|
|------|------------|----------|
|
|
| ~5 | 2.5M | 50% |
|
|
| ~18 | 4.5M | 90% |
|
|
| ~28 | 5M | 100% |
|
|
|
|
## Significance
|
|
This represents futarchy governing a critical monetary policy decision — the permanent supply curve of a proof-of-work token. The market approved a more deflationary model that balances competing community preferences: reduced FDV (addressing buyer sticker shock), faster-than-Bitcoin decay, order-of-magnitude scarcity, and ~30 years of mining runway. Described as "a major step forward in ORE's hardening process" toward freezing the contract permanently.
|
|
|
|
## Relationship to KB
|
|
- [[ore]] — parent entity, monetary policy
|
|
- [[futardio]] — governance platform
|
|
- [[dynamic performance-based token minting replaces fixed emission schedules by tying new token creation to measurable outcomes creating algorithmic meritocracy in token distribution]] — related mechanism concept
|
|
|
|
## Full Proposal Text
|
|
|
|
*Source: futard.io, tabled 2024-11-18*
|
|
|
|
Should ORE migrate to a deflationary emissions curve and reduce the supply cap to 5m tokens?
|
|
|
|
When ORE launched in April 2024, it was built with a linear emissions rate of 1 ORE/min and uncapped total supply. In response to overwhelming feedback from the community, we introduced an artificial supply cap of 21m tokens in the redesign of v2.
|
|
|
|
Over the last few months, the ORE community has continued to voice interest in accelerating ORE's distribution. After considering a series of alternative models, we propose:
|
|
|
|
1. Reduce the supply cap from 21m to 5m tokens
|
|
2. Reduce the emissions rate by 10% every 12 months
|
|
|
|
ORE's current limit of 21m tokens was originally chosen to mimic Bitcoin's total supply count. With a supply cap 4.2x lower, ORE's supply will be an order of magnitude more scarce than Bitcoin when fully-diluted.
|
|
|
|
Rather than infrequent "halvings" every 4 years, we believe ORE's mission would be better served by reducing emissions at a more gradual 10% per year. This would provide a faster, smoother, and scarcer distribution curve than Bitcoin.
|
|
|
|
We believe these changes strike an ideal balance:
|
|
- Reduces FDV to address sticker shock of buyers
|
|
- Introduces a deflationary curve that decays faster than Bitcoin
|
|
- Caps the supply an order of magnitude more scarce than Bitcoin
|
|
- Provides ~30 years of mining runway for onboarding and liquidity incentives
|
|
|
|
If passed, we will implement these changes and migrate the mainnet mining program. This would represent a major step forward in ORE's hardening process and bring us one step closer towards freezing the contract for good.
|