Autonomint DAO white paper.

Through this white paper, we aim to present the Autonomint DAO solutions, which are designed to establish an ecosystem that paves the way for innovative approaches in cultural economics and Web 3 driven enterprises.

Mar 2024 Edition.

 

 

 

 

 

 

 

 

 

🚩Intro

Autonomint DAO is a pioneering, self-organized, and innovative ecosystem designed to enable artists and cultural enthusiasts to create and share value collectively through creative and innovative endeavors. Through integrating social and cultural capitals with blockchain technology, this platform utilizes decentralized financial approaches to transform such values into blockchain-based capital.

At its core are the Autonomint projects, essential for curating and launching diverse art collections as NFTs on various blockchains and marketplaces. These projects, more often than not, serve a dual purpose: (1) not only do they involve in promoting and commercializing artists’ works but also (2) in generating intrinsically precious financial and social assets for Autonomint DAO.

The accumulated assets thus are strategically reinvested to assist emerging gifted artists, acquire NFT artworks, and develop innovative new Web 3 projects. Nonetheless, these reinvestments and developments are guided by a Collective Decision Making solution, a democratic voting mechanism within the DAO community. This approach, therefore, signifies a unique blend of artistic creativity with technological innovation, fostering a collaborative, sustainable environment for art and culture in the digital world. Building and expanding such a pioneering shared community is the Autonomint DAO’s main purpose.

 

🏛️What is Autonomint DAO?

 

Autonomint DAO is a Polygon based Decentral Autonomous Organization that serves as an ecosystem where artists and culture enthusiasts have the opportunity to collectively generate value out of their creative pursuits.

Moreover, Autonomint DAO has multifaceted objectives, encompassing activities such as NFT collection, development of new NFT projects, curation of NFT collections, and influencing the aesthetic landscape of the NFT art scene through community building.

At the heart of this DAO’s value generation activities is a set of diverse Autonomint projects. These projects are primarily focused on assembling art collections that showcase talents from diverse art communities, and launching NFT projects across a variety of blockchains and marketplaces.

 

The Autonomint projects is instrumental in this ecosystem, responsible for introducing and featuring artists, marketing and promoting community-members’ artworks, and creating both financial and social assets for the Autonomint DAO. Afterward, the accumulated assets are strategically deployed in certain domains, including supporting emerging artists with creative and new projects and on a variety of platforms, acquisition and curating NFT artworks, and financing and managing new Web 3 initiatives through the DAO’s collective voting processes.

As one of the fundamental characteristics of decentralization and blockchain technology, we believe that a Decentralized Autonomous Organization (DAO) plays a crucial role in establishing Self-Organized Communities and enabling Collective decision-making processes, all while being supported by strong ownership rights. Our Autonomint DAO strongly prioritizes the right to vote. It makes independent decisions, a process that is rigorously protected by both the DAO and Blockchain technologies.

This democratic system is put into practice for a variety of objectives such as selecting the governance board, handling fund withdrawals from the DAO’s treasury, channeling investments into new initiatives using the assets of the DAO, offering grants to artists based on their involvement in Autonomint projects, and tackling any unexpected issues that require a community vote.

These operations are all executed in a decentralized format via the Autonomint DAO platform. Here, members who possess at least 5 Autokens can submit proposals. Moreover, every member of the DAO has voting rights, with one vote allocated per Autoken they hold, ensuring an equitable and participatory approach to decision-making.

 

🟪 Autonomint Projects:

 

The primary operational component within this DAO to creat value is the Autonomint projects. Autonomint projects are primarily dedicated to curating art collections featuring artists from diverse art communities and officially launching their art collections as NFT projects on multiple blockchains and marketplaces.

Autonomint projects play a key role in the process by introducing and exhibiting artists, selling their artwork, and generating financial and social assets for the Autonomint DAO. These resources are subsequently utilized across different areas, such as supporting emerging artists for new projects, acquiring and collecting NFT artworks, as well as funding and overseeing new Web 3 projects by the DAO by implementing voting mechanisms.

 

 

📈 NFT’s Counter-Inflation Effect: Introducing Autonomint DAO and Autoken.

 

Christophe Spaenjers, in his 2023 essay for Art Basel, aptly argues that investigations show “artworks are a better way to preserve purchasing power than financial instruments like bonds, for which cash flows are fixed in nominal terms.” In this article, we advance this argument by proposing that blockchain web-3 based NFTs enable stakeholders of various kinds to use the counter-inflation potential of these newly emerged technologies to preserve value even more effectively. This argument is put forward by introducing a solid case: the Autonomint DAO and its soon-to-be-released Autoken (ATKN).

Autonomint DAO is, first and foremost, a decentralised web-3 based project. As cryptocurrencies have emerged to address the fallacies of the central financial systems that led to the 2008 financial crisis, this project has been developed to tackle the central nature of the traditional art market. The centrality of this project, alongside numerous outstanding similar projects, provides a superb opportunity for different art market actors to preserve value efficiently. This leads to the non-hierarchical nature of the project, allowing actors to collectively decide on its path.

The Autonomint DAO is an excellent solution for making decisions collectively, thus preventing any non-communal decisions from being executed, as is common in many centralised and hierarchical financial units. Therefore, Autonomint project members, including artists, staff, collectors, audiences, and others who shape its community, are not left alone in times of crisis caused by devastating waves of inflation. This leads us to the third part of our argument: a certain portion of the total value accumulated by this project goes to its treasury to be used in times of need. This solution has already been discussed within the Autonomint DAO.

Central to the arguments on the counter-inflation nature of the Autonomint projects is how it articulates ‘cultural value’, as it is commonly discussed in terms of ‘symbolic value.’ The counter-inflation quality of an NFT is mainly derived from its potential to preserve value not through old-fashioned conceptions of value creation, but via different forms of value-making mechanisms, in this case, symbolic. This is essentially communal, futuristic, and in process. Unpredictability becomes predictable through collective efforts to (re)assess not an established form of value, but emerging forms of values. Such plurality has been driven by (1) the failed experiences of traditional markets, and (2) promising newly emerging decentralized markets such as NFTs, of which the Autonomint Project is a part.

Autoken (ATKN) encapsulates all these qualities. It is a decentralized, community-driven token, designed to provide young and emerging artists with unique opportunities to enter new marketplaces and use blockchain technologies to preserve value, especially during times of (hyper)inflation. Unlike central fiat currencies, ATKN is governed through a completely democratic mechanism, designed to counter hierarchical and central decision-making processes that have led to various significant financial crises. Thus, this represents a new path that we believe is an effective solution to the current challenges facing the traditional art market on one hand, and the inevitable technological advancements resulting from the web-3 ecosystem on the other. New art markets of this kind are the future of the art market and should be taken more seriously than we have seen recently. The combination of these solutions with newly emerging AI technologies has already shown a promising future, which we are fortunate enough to witness.

 

🗳️Collective Decision-Making Solution:

 

The cornerstone value of Autonomint DAO as a Self-Organized Community aimed to facilitate Collective decision-making and backed by robust ownership rights, is the freedom to cast vote and participate in decision-making processes that are initially safeguarded by the DAO and Blockchain solutions.

To democratically ellect the governance board, managing withdrawals from the DAO’s treasury, investing in new projects through using DAO assets, awarding grants to artists for their contributions to Autonomint projects, and addressing any unforeseen obstacles are being ratified by the community’s votes. 

As it is mentioned earlier, roposals can be made by any member holding a minimum of 5 Autokens and each DAO member is entitled to one vote per Autoken held, ensuring a fair and inclusive decision-making process.

 

💰Benefits for artists and community:

 

Within the Autonomint DAO, any token holder possessing at least 5 Autokens has the capability to submit a proposal and utilize the available grants for their art initiatives, receiving support from Autonomint Projects. However, for those community members actively engaged with Autonomint DAO through roles – including community management, volunteer work, or collaborative project efforts – the DAO offers additional incentives such as Autoken or NFT airdrops.

However, the most crucial aspect is that we are collectively constructing this ecosystem. Together we are Autonomint . Thus, in each section we closely collaborate with our community. We generate new value that benefits all Autoken holders. This ecosystem flourishes and expands through the efforts and contributions of Autonomint DAO members.

Autoken (ATKN):

Autoken (ATKN) an Art-backed cryptocurrency, reshaping the very essence of currency by anchoring its value to artworks. In essence, Autoken represents a novel approach where traditional currency is fused with the intrinsic value of art, creating a dynamic ecosystem where artistic expression intersects with financial innovation.

The Autonomint DAO is symbolized by 1.6 million tokens named Autoken, identified with the (ATKN) symbol on financial platforms. These tokens operate on the Polygon blockchain, with a designated token contract address: 0xdd2df92717579a2ff3adcec4dc2d8a8c798544d0.

The tokenomics strategy of Autonomint DAO unfolds in two distinctive phases, with the initial phase comprising five stages aimed at fostering value appreciation.In Autonomint DAO, all token holders can utilize their voting rights based on the number of tokens they possess, and even individuals with as few as 5 tokens have the eligibility to propose new decisions.

Unlike central fiat currencies, ATKN is governed through a completely democratic mechanism, designed to counter hierarchical and central decision-making processes that have led to various significant financial crises. Thus, this represents a new path that we believe is an effective solution to the current challenges facing the traditional art market on one hand, and the inevitable technological advancements resulting from the web-3 ecosystem on the other. 

 

 

 

🪙Tokenomics:

 

In this section, we have commenced the process of assessing the value of Autonomint’s assets in collaboration with our team of consultants and economic experts. This evaluation includes various elements, such as the NFTs we have acquired and collected, the ongoing earnings generated from royalty fees, the valuation of Autonomint projects, the intrinsic value of the Autonomint brand, and more.

In the first stage, we have 533,333 Autoken available, which we refer to as ‘Tokens in use.’ To pass a proposal, we’ll need 51% of these tokens, which amounts to 271,999 Autoken.

Autonomint DAO tokenomics program based on Two waves, first wave included 5 phases and the second wave will releasing by community decisions for developing DAO structure such as  technical development and Partnerships.

Autonomint DAO tokenomics based on Two waves, first wave included 5 phases and the second wave will releasing by community decisions for developing DAO structure such as  technical development and Partnerships.

 

🌊 Wave 1:

 

In this section, we have commenced the process of assessing the value of Autonomint’s assets in collaboration with our team of consultants and economic experts. This evaluation includes various elements, such as the NFTs we have acquired, the ongoing earnings generated from royalty fees, the valuation of Autonomint projects, the intrinsic value of the Autonomint brand, and more.

 

Stage	Releasing ATKN	Value Growth	Release Decision Making	Released ATKN
W1 P1	266,666	50%	Community vote	799,999
W1 P2	133,333	30%	Community vote	933,332
W1 P3	133,333	50%	Community vote	1,066,665
W1 P4	66,666	30%	Community vote	1,133,331
W1 P5	66,666	50%	Community vote	1,199,997

 

🌊 Wave 2:

 

This amount of Autokens (ATKN) is allocated for investment corporations and making changes in the technical structure and will be released from Autonomint DAO treasury.

 

Stage	Releasing ATKN	Release Decision Making	Released ATKN
W2	400,003	Community vote	1,600,000

🔴Voting Policy:

 

Following our tokenomic policy, a majority vote of 51% from Autonomint DAO token holders is required to approve any proposal. Currently, there are 1,066,666 Autoken stored in the DAO treasury wallet. These tokens will be gradually unlocked following our tokenomics plan.

In the first stage, we have 533,333 Autoken available, which we refer to as ‘Tokens in use.’ To pass a proposal, we’ll need 51% of these tokens, which amounts to 271,999 Autoken.

This figure represents 17% of the total 1.6 million Autoken tokens. It’s worth noting that as tokens are released in subsequent phases, we will reevaluate the minimum vote requirement.

Support threshold: >51%

Minimum participation: ≥ 17% (≥ 272k ATKN)

Proposal threshold Members with: ≥ 5.0 ATKN voting power or balance

Minimum duration: 1 days 0 hours 0 minutes

Early execution: Yes

Vote change: No