The Metacolony is the DAO that will build, maintain, and support the Colony ecosystem, and you can be part of it.
Colony 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 and maintenance will be needed to support the growth of a thriving ecosystem. The Metacolony is the DAO responsible for that important work.
Every colony needs the Metacolony, anyone may contribute, and it opens for business real soon.
Colony generates revenue from network fees. Fees 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
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.
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