Grand Plan: The Supernova Community Treasury
and the “Champagne Overflow”
How we can lead a one-time donation fundraiser to kick-start an infinitely self-replenishing, community-governed Treasury, made possible by the Applied Economics of RFI
And a Comprehensive Update on the Community Treasury situation as well as a “Roadmap” for the road forward
The profound economics of RFI has enabled us to pick a number, say, 50,000 RFI that serves as the BASE. This is the PRINCIPAL that the community will never touch and will always remain in the treasury, i.e LOCKED and never touched or spent.
The rewards passively generated by transactions from the 50,000 RFI BASE amount will serve as project funding for anything we EVER need.
Or what we call, a Champagne Overflow.
REPORT ON THE CURRENT SITUATION
Current treasury balance = $25K USD
Pledges matches = $20K USD(offered by Chapo, B C and Kashaf), will only match the amount that the community donates from the posting of this article)
Future community donations = $20K USD(to get full match)
Remaining VIP NFT Sales = ~$35K USD
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Total fund after above items are complete = $100K USD ( ~ 40,000 RFI at current market price of ~$2.50 per RFI)
Including the LINK price oracle, we could require a total Funding of $50,000 USD on top of the $100,000 BASE Supernova seed,
The LINK oracle could take priority before the Supernova Treasury depending which is higher on the community’s priority list, based on a vote.
Possible venues to maximise the use of Supernova Treasury fund
This is how the Supernova funds are potentially going to get spent (pending community votes):
- LINK Oracle for a price feed ( for collateralised RFI loans on YLD, costs $50k USD)
- Marketing (Social media, influencers, articles, etc)
- Possible future audit
- Redistribution to RFI holders
- Humanitarian/charity efforts, projects, organisations, communities, even COUNTRIES who need it
An elaboration on the most exciting priority use of the Supernova Treasury for the near future:
- LINK Oracle for a price feed
Firstly, it enables RFI to take our integration with YLD to the next level and collateralise loans backed by RFI to take out a loan in YLD to purchase more RFI, WHILE collecting fees from your locked RFI which could be used to help pay off the loan, on top of the up to 350 YLD that could be earned each time you pay off a loan, and that’s aside from the possible price appreciation that you could gain from the loaned amount you took in YLD which you used to purchase more RFI than you otherwise could have. It’s leverage in action.
Aside from loans, LINK Oracles could be used for any number of other use cases, but price feeds are just the most widely adopted usage currently across the market.
2. Redistribution to Holders
Let’s say the treasury has grown to 55,000 RFI (over the 50,000 RFI base amount) and we don’t have any current spend needs….
We could distribute the 5K RFI surplus out to RFI holders. we call this the Champagne Overflow.
Practical execution of the “Champagne Overflow” Redistribution:
We could do by using a built-in function in the reflect contract to redistribute tokens to all holders.
The Road(map) Ahead:
Considerations of Decentralisation
We are keeping in mind though that this fund could become a point of politics which can complicate community sentiment.
As such, the messaging for the community is that the Supernova Community Treasury is a PROOF OF CONCEPT that ANYONE can do with RFI. Create a treasury and put it to purpose. The Supernova Community Treasury is not *THE END ALL, BE ALL TREASURY*, but just ONE of the many possible treasuries any community can create and raise funds for.
On top of the above, we have taken the following actions:
Further Decentralisation of the Supernova Community Treasury
As El Chapo outlined, he wants the multi Sig fund set up ASAP and over the next few weeks, up to 8 active, contributing Community members will be chosen to be part of the multi-Sig wallet.
Finishing notes, the Race against time
And the sooner we complete the fundraiser of 50,000 RFI (Arbitrary base amount) the better. Based on the current market, RFI is projected to double and triple in the next few weeks and it’ll be a hell of a lot harder to raise 50,000 RFI. That’s why the RFI Focus Group (consisting of a few active community members) is prioritising this NOW. We have to get these NFT’s sold & need to get $20K raised ASAP. The value of this treasury could get to $500K if we can raise the 50K RFI we need and we go to $10 per token.
THE FUTURE IS OURS TO GRASP
DeFi had developed so much of a culture around locking tokens in contracts and taking on so much risk that there is even a measure on DeFi pulse ( a popular website for metrics) that everyone uses called TVL or “Total Value Locked”.RFI came along and turned that whole idea on it’s head. You no longer need to lock your tokens in a contract who’s keys are owned by somebody else who can rug it and run away with your money any time.
Thus, RFI is hard to catalogue under the DeFi ecosystem since it just revolutionised the entire industry. It might as well have started a new ecosystem on it’s own, ReFi (Reflective Finance) We are the collective revolution of the way the entire world looks at money.
Humanity can achieve great prosperity if we work closely together collectively from today with the help of the RFI protocol. The future is bright and we will forge ahead to realise the possibility of an abundant future. The most pressing problems of the world, i.e Global Warming and Wealth inequality are solved through a beautiful cooperation of humanity and this time in the monetary industry, aided by Blockchain and reflect.finance.
E PLURIBUS UNUM — (Out of many, one)
