Colony is a DAO which exists to make it easy for others to build DAOs.
Our technology is designed to be a self-sustaining public utility: a permissionless digital commons available to all without possibility of censorship.
We think of it as infrastructure for the future of the firm.
Infrastructure requires upkeep; ongoing development, maintenance, and support will be needed to ship Colony's ambitious roadmap and grow a thriving ecosystem. The Metacolony is the DAO responsible for that important work, and these funds are entirely for it to realize that mission.
CLNY is the native token of the Metacolony.
Disputes in the Metacolony require CLNY to be ‘staked’ as surety. Winning a dispute earns stakers a share of the loser’s CLNY.
Accounts with both CLNY & Reputation in the Metacolony may be eligible to claim a share of Metacolony revenue.
Reputation updates are calculated off-chain by miners who stake CLNY to compete to perform them to earn CLNY and Reputation.
Fees denominated in tokens other than USDT, USDC, XDAI and WETH are auctioned for CLNY, which is burned.
Colony generates revenue from network fees. Fees paid in whitelisted tokens go to the Metacolony to sustain ongoing development, security, maintenance, support, and Colony's ecosystem incentive mechanism: BudgetBox.
The Colony Network levies a small fee on Payments leaving a colony to an external address.
Fees paid in whitelisted tokens like USDC, USDT, WETH or xDAI go to the Metacolony to incentivise contributors.
Fees paid in other ERC20 tokens go to auctions where token buyers can purchase ERC20 tokens using CLNY, which is burned.
The calculator below may be used to estimate the fees generated by the Colony Network under a range of assumptions.
CLNY will be sold via a Token Launch Auction (TLA) on Copper.
In a TLA the price of the token starts high and drops based on a pre-configured price decay curve that can be resisted by buying pressure from auction participants. Anyone can buy into or sell out of the auction freely at any time, so price truly regulates itself.
TLAs are open and permissionless. No whitelists, hard caps, or listing requirements. There is no minimum or maximum allocation.