$ZERO QDO — Token Generation Event
On August 29, 2021 we announced the QDO (Quantum DEX Offering) — a novel mechanism to birth one ZERO Universe from another.
A 'Universe' within ZERO is a root domain on the ZERO Name Service protocol (such as '0://Wilder'). Wilder World is the first of many Universes that will launch on ZERO. The primary purpose of the QDO is fourfold:
- To reward citizens of existing Universes every time a new Universe launches on ZERO.
- To create mutually aligned incentives between Universes and their citizens; when one Universe expands, we all expand.
- To ensure that everyone (not just institutions and insiders) reap the potential economic benefits of having early access to new token launches on ZERO.
- To ensure that new Universes built on ZERO have an immediate and automatic number of engaged citizens to bootstrap their economy. This creates an intrinsic network effect (metcalfe²) for new Universes created on top of the ZERO protocol.
Here's how the QDO mechanism works:
- Let's assume there is a new Universe launching on ZERO — 'Universe X'.
- Prior to the launch of Universe X, multiple snapshots are taken of the $ZERO token contract. A 'snapshot' enables the ZERO smart contract system to know the exact number of tokens held by each address at a specific moment in time.
- Key snapshot dates are announced prior to the launch of Universe X. Compared to a typical pre-sale, investors can simply participate in the new Universe economy by purchasing additional ZERO token.
- On the launch day of Universe X, ZERO token holders are issued a specific amount of vested token, based on a pro-rata calculation relative to their ZERO token holdings. This calculation will vary with each new Universe launch, and is determined in the sole discretion of the launching Universe (in this case Universe X).
- After the launch, ZERO token holders visit a token claim website where they can unlock their newly minted Universe X token (according to the pre-established vesting structure). Vesting structures can vary from launch to launch.
- Universe X begins trading on Uniswap; the QDO is complete and a new Universe is born.
One of the best parts of this mechanism is that token holders can participate in future token economies (for free!) simply by owning ZERO token. The QDO does not discriminate; it enables everyone to receive a portion of new Universe economies under the same terms, while also aligning incentives between all citizens across Universes (hence, the Metaverse).
There is an additional (potentially significant) benefit of the QDO related to securities regulation. While it is not yet entirely clear how blockchain tokens will be regulated, tokens that do not have defensible utility are more likely to be classified as 'securities'. By giving tokens away for free (instead of selling them before there is 'utility'), there is considerably less risk using the established definitions outlined in the Howey Test.
THE $ZERO TOKENOMICS
$ZERO will be a fixed-supply economy with 10,101,010,101 total tokens. $ZERO is used to facilitate three unique utilities within the ZERO protocol (smart contract system):
- The sale of post-minted 'root domains' (all domains at the '0://' level of the protocol)
- ZERO Layer 2 transaction (z2) and distributed hosting fees (zChain)
- Voting within the ZERO DAO (Trinity Governance System)
For more information on the ZERO token system please read the ZERO whitepaper.
Summary of token categories:
- Early Backers: Early supporters over the past six years that have helped with funding, advice, and support of ZERO and related projects.
- QDO: This is the QDO outlined in this Zine.
- Team: The core existing contributors of ZERO.
- The One Foundation: New Zealand-based non-profit focused on funding R&D for the ZERO ecosystem (similar to Ethereum Foundation) and building physical campuses.
- The Last Entity: Delaware corp. focused on building commercial applications on top of ZERO (similar to ConsenSys).
- Advisors: Key advisors and council members.
- Universe Building: Funding for designing, building and scaling the initial twelve ZERO Universes.
- Partners & Ecosystem: Funding for shared tooling and infrastructure to build ZERO's ecosystem.
- DAO Reserve: The Collective Community Treasury to fund and support ZERO.
THE ZERO QDO & SNAPSHOT
The first QDO on ZERO will be for the launch of ZERO itself via the $ZERO Token. We will achieve this by snapshotting and issuing $ZERO tokens to $WILD tokens based on the following structure.
The initial $ZERO issuance formula will happen using three separate $WILD snapshots in time; A, B, and C, respectively. Each snapshot is weighted equally and results in a total of 100% for the allotted QDO allocation:
- Snapshot A: August 1, 2021 — This is intended to reward those who purchased $WILD early and held it though the $WILD summer (33.33%),
- Snapshot B: September 29, 2021 — This is intended to reward those who purchased $WILD before or after the initial QDO announcement.
- Snapshot C: September 29, 2022 — This is intended to incentivize citizens to think long-term and HODL. After all, good things take time (33.33%).
The principle behind this snapshotting structure is straightforward. We intend to always reward those who buy early and HODL, irrespective of market conditions. We want to incentivize those who believe in our long-term vision. We know real Wilders will appreciate this sentiment.
Here is quick example of how the snapshotting will work:
- Let's assume Joe Wilder acquires $WILD using the following timeline:
- Purchased 100 $WILD tokens on or before August 1, 2021
- Purchased an additional 100 $WILD tokens on September 28, 2021
- Purchases another 100 $WILD tokens on January 1, 2022
- Joe would receive the following allocation at each specific snapshot:
- 1/3 allocation for 100 tokens on August 21, 2021
- 1/3 their balance of 200 tokens on September 28, 2021
- 1/3 allocation of their 300 balance on January 1, 2022
Balance Calculations as at September 29, 2022:
- Total $WILD Balance: 300
- Total 'Eligible' WILD: 200 (based on weighted calculation)
- Calculation: (1/3 * 100) + (1/3 * 200) + (1/3 * 300) = 200 eligible $WILD
In this example, Joe Wilder would receive their pro-rata allocation of 'the $ZERO QDO Token Drop' (totaled at 2% of ZERO's supply) based on a total calculated holding of: 200 $WILD.
Over the coming weeks (prior to ZERO trading on Uniswap), we will provide access to a 'token claim website' where you will have the ability to 'claim' your $ZERO holdings (based on the QDO vesting structure outlined in the table above).
Please stay turned for updates on both the ZERO and Wilder World Zines as well as Twitter, Telegram and Wilder World Network on ZERO for exact updates on this process.
We could not be more grateful for the support of the Wilder Nation. Without you, both ZERO and Wilder World would be nothing more than a dream – a dream that is now coming to a Metaverse near you.
From ZERO to INFINITY,