GOV, short for Governance, is the SubDAO protocol’s governance token. GOV has a total supply of one billion.
Token holders will have the right to vote on all aspects related to the management and administration of the SubDAO protocol, including governance action, referenda, network upgrades, council elections, parameter adjustments, integrations, changes to incentives, and all other managerial functions.
SubDAO is a multi-chain DAO protocol that collaborates with Polkadot para-chains such as Moonbeam, Acala, and others. Upon upgrade, when SubDAO provides additional services, hence requiring a better chain, we will explore developing a para-chain designed specifically for SubDAO.
Initially, SubDAO allotted 30% of the total supply for para-chain costs; however, community consensus and advisers suggested a reduction to 10%; hence, the remaining 20% will be set aside for burning.
The 10% of supply allocated to the Ecosystem Foundation will facilitate the long-term development of the SubDAO ecosystem. In lieu of this, we will organize hackathons and reward developers that contribute to the development of DAO Templates.
SubDAO also intends to reward early community supporters with 3% of the total allocation; if there are leftovers, unused funds will be donated to the Ecosystem Foundation. Team members are allotted 10% of the total tokens to encourage them for their efforts in making SubDAO a success. Lastly, the 20% allotted for the token sale is for product development and marketing until SubDAO grows enough to be managed by an independent DAO.