$DOWN Token

$DOWN ($DOWN Vault token) is both a creator's social token, and the first iteration (and production test) for the "social tokens 2.0" tokenomics framework. The goal of the $DOWN Vault experiment is to establish and showcase a functional, DIY approach to creator/community led social token projects, which if executed properly, has far greater potential to benefit the associated creator/community, as well as greater potential to benefit investors, patrons, and speculators. BruceTheGoose is the creator of (and artist associated with) the $DOWN social token, and has a diverse and extensive history in the NFT / DeFi / Web 3.0 ecosystem. For more info about BruceTheGoose, visit the page at this link.

ABSTRACT

$DOWN is the first token of its' kind deployed in the DeFi ecosystem and leverages the composability of smart contracts and the versatility of NFTs to create a 'social token' that has a provable, smart-contract enforced backing from hard assets which can perpetually be added to, but cannot have anything removed once provided. This is accomplished by creating an "NFT-fractions" token, which uses an Emblem.Finance Vault as the underlying NFT; creating an asset vault which is capable of holding fungible and nonfungible assets from Ethereum and EVM networks, Bitcoin, Tezos, Bitcoin Cash, and more. At the time of writing, the vault contains over 50 NFTs; many of which hold historical significance in addition to their displayed 'floor price'. Some examples include Cryptoskulls, Curio Cards, Ether Legends cards, Rare Pepe's, Rare Apepe's and Mooncats. Determination to create a truly innovative and original token format led to the creation of the mechanic we've dubbed "quantum compounding"; a cascading value accrual or "positive feedback loop" generated by depositing 10% of the $DOWN token's softcapped supply into the the underlying asset index.

$DOWN DAO

The initial purpose and goal of the $DOWN DAO is to decentralize the ownership, development, and management of the $DOWN Vault social token experiment. To facilitate these goals, the $DOWN DAO treasury has been allocated 15% (1.500.000) tokens from the soft-capped supply. The $DOWN DAO is tasked with the following:

• Monitor and promote the growth of the $DOWN Vaults' holdings
• Oversee the development of the $DOWN ecosystem
• Utilize the allocated $DOWN (as well as a share of revenue, fees, and profits earned) to enable acquisitions that augment the value of the vault and the backing of the $DOWN tokens
• Determine best practices for the representation of the $DOWN Vault tokens fundamentals and documentation and standardization of the 'social tokens 2.0' primitive.

As the project gains momentum, additional aspects* of the token's association to BruceTheGoose will increase in priority, and will be receptive to community input and governance proposals. To provide some early examples of ways that the hodl'ers of $DOWN specifically benefit from $DOWN's status as a 'social token'

• Bruce has an extensive personal and professional network within the NFT space; cultivated over nearly 3 years of working exclusively in the crypto industry
• The DAO will have access to otherwise idle properties in multiple Metaverse worlds such as Sandbox, Cryptovoxels, Decentraland, Somnium Space, and several others. The lands can then have art galleries, conference halls, concert venues or similar establishments which can be monetized or used internally.
• Bruce will make himself available to community members who aren't highly experienced in the Web 3.0 ecosystem to provide guided tutorials and other educational content.

Throughout the execution of any of the above mentioned factors of the $DOWN DAO; delegators, voters, and anyone else involvedin the active management / governance of the $DOWN ecosystem will be expected to do so with consideration for the long-term goal of establishing consensus that the '$DOWN standard' is a superior format for social token issuers and to initiate a 'social tokens 2.0' launchpad and incubator program.