Author: matterturbulent
Date: (2022-12-04)

提案主旨​

E Pluribus Unum 合众为一^(注1)​

十五个 web3 团体（数量还在增加中）聚集在一起，竞标苏富比拍卖行将于 12 月 13 日公开拍卖的一份美国宪法的私人副本。这个运动我们称之为 UnumDAO, 它是 ConstitutionDAO 一个精神的延续，去年的宪法运动直接或间接催生了很多参与团体的诞生。我们将使用私人多签应用 Nucleo 来混淆部分捐赠数额让我们的竞拍更有优势，与此同时在 Juicebox 上公开募集其余所需的资金。通过这个运动，我们准备向全世界展示过去一年里加密币圈的骄人成就，同时也向我们的社区及行业发出一个积极的信号。我们的目标是以美国宪法为契机，然后进一步收购其他重要的公民文物，来建立一个由治理 NFT 持有者全面控制的 “人民博物馆”，成熟之后再转到其他新的领域，并在这一过程中让公众更多地了解民主的历史及创新。

Juicebox 是一个 web3 项目募资筹款的首选去中心化平台，有鉴于此，我们很荣幸能与 Juicebox 开展合作。我们现向 Juicebox 申请 15 万美元的拨款，作为此次拍卖活动的初始资金。此外，我们希望使用 holdFees标志^(注2)，以便万一拍卖失败时我们可以向捐款人开展全额退款。

如果竞标失败，所有资金都会退回，包括此项拨款。所有捐款人可以在 30 天的时间窗口内取回资金。30天之后，剩余资金会发送到 UnumDAO 多签钱包，用于收购、展示及保管其他的公民文物。

提案动机​

这个提案在确定 JuiceboxDAO 和 “ConstitutionDAO2” 之间的合作关系的同时，还将启动我们的筹款项目。我们认识到， Juicebox 在整个生态系统中扮演着至关重要的角色，引领去中化价值的走向。Juicebox 是 web3 的一个关键性工具，让许许多多的再生项目建立他们的治理社区成为可能。这个提案是完全取消 Juicebox 收费和正常收费两个方案之间的一个折中方案。

提案明细​

1. JuiceboxDAO 将于第 37 个筹款周期从 JuiceboxDAO 的 V1 金库分配 15 万美元等值之 ETH 到 UnumDAO 的筹款项目。
2. 打开项目的 holdFees 标志, 万一 UnumDAO 竞拍失败，可以进行全额退款。
3. Juicebox 以合作伙伴身份来参与此次运动。

提案理据​

此次宪法副本的评估价值为 2 千万 - 3 千万美元。以 Juicebox 平台费用为 2.5% 及 JuiceboxDAO 向筹款项目拨款 15 万美元来计算，项目筹款必须超过 600 万美元， Juicebox 收到的平台费用才能超过其投入的 15 万美元拨款。

风险​

若项目筹款低于 600 万美元但仍赢得拍卖，Juicebox 收到的平台费用将少于其向项目的拨款。

时间线​

筹款项目将于几天内启动，Juicebox 需在项目启动时将 15 万美元以捐款形式转入项目金库。如果 UnumDAO 竞拍失败，我们将参照类似活动的合理时间线来处理退款事宜。所有捐款人都可以在 30 天的时间窗口内取回他们的资金。从今天起至 12 月 13 日拍卖结束的日子里，宪法运动联盟将倡议 web3 世界再次共聚一堂来竞拍一份宪法副本。这一次不一样，我们一定会赢。

Defifa 是一个应 2022 年国际足联世界杯而生的试验性 NFT 小游戏。NFT 铸造 从 11 月 8 日开始，至 11 月 21 日世界杯揭幕战开始前截止。游戏定于 12 月 25 日结束 — 世界杯闭幕后 7 天 — 届时项目所有的金库资金将向 NFT 持有者开放赎回。

以下是让 Defifa 成为可能的 3 个值得关注的新颖构想：

NFT 分配​

过去的 5 个月以来，JuiceboxDAO 的技术员贡献者们一直在开发一个 NFT 分配机制，让项目方可以配置并附加到项目的任何筹款周期里。附加上这个 NFT 功能之后，项目收取的款项如果满足某些条件便有机会从一个 ERC-721 合约铸造出代币。这个 ERC-721 合约可以包含任意个付款等级，这些付款等级又可以定义各自的图像及描述元数据、最低捐款门槛、最大供应量、保留给预定受益人的代币比率、投票权重以及其他的属性，以确保项目方和社区双方的信心。

Defifa 使用这一机制定义了 32 个等级，分别对应世界杯的 32 支参赛队伍。所有等级都包含在同一个 NFT 系列之内。每个等级均不设供应量上限，捐款 0.022 ETH 至 Defifa 金库即可获得。所有向金库的捐款都有资格获取，同时必须注明想要铸造的队伍。客户端可以注明付款价值是否必须全部用于铸造 — 如果付款金额不是 0.022 ETH 整倍数，交易就会撤回。

项目所有权​

项目方拥有配置一个项目未来筹款周期的专属权限。迄今为止创建的大部分 Juicebox 项目都是由个人或者多签钱包所拥有。与此不同，Defifa 项目的所有者是一个合约，这个合约会自动发起交易来配置四个硬编码的筹款周期，分别来对应游戏的四个不同阶段。这四个筹款周期分先后次序，并由游戏实例化时定义的时间戳所约束。

第一个筹款周期是铸造阶段：

• 允许付款给金库并按上述标准来铸造各个球队的 NFT。
• 赎回可以获得铸造价格的全额退款。
• 这一阶段不会铸造保留代币。

第二个筹款周期在世界杯揭幕战开场的那一刻开始：

• 付款暂停以避免任何后续代币铸造。
• 赎回暂停以防止动用金库资金。
• 每个等级铸造保留代币，铸造方式为每 10 个代币里有 1 个分给 Defifa 球童，即开发这个游戏并支持其顺畅运行的工作团队。

第三个筹款周期与世界杯四分一决赛开始时间一致：

• 所有队伍所有 NFT 的转移全部锁定，暂时变成灵魂绑定代币。
• 其他规则与第二个筹款周期一致。

第四个筹款周期在世界杯总决赛结束 7 天后开始：

• 解锁所有 NFT 的转让或交易。
• 付款保持暂停，保证不会出现新的铸造代币。
• 开放赎回，可以销毁 NFT 来领取其内含的金库份额。更多详情见以下记分卡部分。
• 这个阶段会永远延续下去。

每个阶段的启动都必须在当前阶段结束前排队交易。任何玩家都可以发送这个交易。

插图作者： gabobena.eth

记分卡​

游戏完全自主裁定结果，也就是说不依赖链上预言机来传递现实世界的结果。相反地，NFT 持有人全权负责认证正确的记分卡来反映现实发生的情况。“正确”的记分卡仅通过社会共识来决定。

这个版本的游戏按证明正确性如下：

• 总共有 100,000 分可供分配。世界杯的 5 轮比赛每轮各分配 20,000 分，由该轮比赛中的获胜方平分。
• 世界杯赛事总有 48 场小组赛、8 场十六强赛、4 场四分之一决赛、2 场半决赛和 1 场总决赛。因此每场小组赛事值 416 分、每场十六强赛事值 2,500 分、每场四分之一决赛值 5,000 分、每场半决赛值 10,000 分，剩下的 20,032 分全部归总决赛。正确的记分卡应该反映每支队伍的累积得分除以总分数 100,000 得出的数值。
• 每支队伍有 1 票投票权，在该队伍的所有 NFT 持有人之间平分。任何人都可以提交不同的记分卡，对记分卡的投票将于世界杯决赛时开始。第四个阶段期间，一旦有 50% 的队伍就正确的金库分配达成共识，该记分卡就可以获得批准。记分卡确定以后，每个 NFT 按照该记分卡的分配比例获得金库的份额。每一个 NFT 都可以通过赎回按比例来获取其队伍的价值。这个是唯一获取金库资产的途径。
• 第四个筹款周期永不落幕，也就是说可以随时赎回（销毁）NFT 来获得金库里的 ETH。这些 NFT 也可以永久收藏及交易。

Defifa 是一个实验，只要配置无误就能正常运行，但是玩家们要自行承担参与的风险。它的代码是开源的，欢迎玩家们分叉这个框架，继续用以后的锦标赛赛事做类似的试验。祝你好运！

插图作者： Sage Kellyn

Defifa.net upends how we think about NFT trading​

The Juicebox protocol has its eyes set on the FIFA World Cup this year. A new project called Defifa is set to launch on November 5th, and will allow players to purchase NFT flags of any of the 32 World Cup teams set to play this year.

(example of the Argentina flag NFT)

Where it gets it exciting is when the World Cup starts. From the first kick-off, all NFTs become non redeemable. The treasury that has amassed all the ETH for the NFTs will become locked, as well. As each phase of the World Cup takes place, the NFTs claim on the treasury will change proportional to their finalist ranking. Midway through the World Cup, the NFTs will also become non-transferable, meaning holders will be locked into waiting for the outcome of the games. At the end of the competition, all participants must ratify a scorecard to attest to the accurate results of the World Cup, at which point the NFTs will be come unlocked and can make their claim on the treasury. So if you purchased an NFT of a team that ended up winning, redeeming that NFT at the end of the World Cup could give you back more than you paid for it. For a short video breakdown, check out this explainer on twitter.

A protocol more flexible than an olympic gymnast​

The entire defifa.net is run on the very same protocol that ran ConstitutionDAO last year, and that is currently home to a variety of projects including, including MoonDAO and JuiceboxDAO. But for Defifa, there were some important tweaks.

The protocol has no idea who will win or lose in the world cup, and who will get knocked out. While one obvious solution is to appeal to an off-chain oracle, a much more interesting one was to have the NFT holders participate themselves. When a new game has happened, anybody can submit a scorecard which NFT holders must then vote on to ratify. Doing this allows the protocol to run more purely, but it also introduces some interesting dynamics.

A game of chance or cooperation?​

Anybody working on defifa will tell you that this is a grand experiment, the outcome of which can’t be predicted. In theory, the game should run smoothly— NFTs are minted, held, participants vote and at the end the NFTs can be redeemed against the treasury with their new (adjusted by the game’s outcomes) value. But what if that doesn’t happen?

What if some people refuse to vote, or vote in bad faith? Or what if so many people purchase the NFT of a favored team, that the claim on the treasury between all those holders is actually quite small? Statistically speaking, what is the expected value of purchasing a highly favored versus a long-shot team, and when does it make sense to trade your NFT and when doesn’t it? The beauty is that nobody knows, and those that play will all find out in real-time.

Where to learn more?​

Head over to defifa.net to learn some of the details of each game phase and to see the NFTs offered. To hear a short podcast episode with the defifa.net creator, jango, head on over to spotify. And if you’d just like to hang out and say hi, come to the Juicebox discord and feel free to ask any questions there.

On Tuesday, May 3rd (Wednesday May 4th local Chinese time), some Juicebox members (including jango, Zeugh, peri, filipv and your favorite author, to name just a few) engaged in an open discord call with Chinese-speaking JB community members and contributors. This article recaps some of the main points discussed. Also a huge shout-out to Zhape for his excellent on-the-fly translations!

Translation needs​

The translation efforts are coming back underway as JB has overhauled its documents over the past few weeks. One area of concern was in how to best achieve accurate translations that can be written engagingly. The need for accurate translators, particularly who are comfortable working from English to Chinese, was underscored by Zhape. If you are comfortable translating into Chinese fluently and would like to contribute to translation efforts, reach out to Zotico in the #translation channel.

Guerilla Marketing Campaign and Community Building​

Zeugh gave a brief highlight of some intended efforts at marketing and community building. Currently, there have been discussions to send some Juicebox contributors to Crypto or NFT conferences where they can network and spread the word about Juicebox. Possible eventual speaking opportunities at conferences, or sponsorships of conferences, are also being discussed, but at the moment the goal is to start small and see if we can spread the word about Juicebox and make meaningful connections between communities, or create opportunities for people to open projects on the Juicebox platform.

Translating outreach/community content​

One area discussed was the importance of trying to make it a priority to translate into Chinese blog posts, interviews, or other materials that will help bridge the gap between our Chinese-speaking and English-speaking communities. For instance, an article such as this one that simply updates the community at large on a recent discord call, or an article that announces major changes coming with V2, would be excellent opportunities to inform our Chinese-speaking readers and to open the opportunity to gain feedback from them.

The state of V2​

jango gave some insights on how the V2 protocol is coming along. Front-end of the protocol is still under development and coming along nicely, and in the mean time fine-tuning measures in the back-end continue to ensure a smooth rollout. The V2 protocol will allow many creative opportunities to build extensions, and offer more tools to project creation. So far early reception has been very good.

Tokenomics strategies​

The question of how tokens should be disbursed, traded and valued also came up. The goal of ensuring that a project received the best rate of JBX per ETH is being discussed and worked on. Practically, this would mean that if a better JBX rate existed from an AMM, a project creator would receive that rate JBX at the AMM exchange rate. While JBX currently has low liquidity, one line of thinking is that such a system, which would necessarily drive traffic to such AMM’s, would serve as a mechanism to build those liquidity pools. Importantly, the impetus for such a process starting will likely come as Juicebox incentivizes these opportunities.

Voting equity​

Another core topic of discussion was around voting equity in the current DAO governance. The question centered around how to strike a balance between early contributing members, such as jango, who have very large sums of JBX and thus have tremendous voting power, and members who may be contributing heavily but are newer, and thus have far lower voting power. This is a catch-22, but it is important to note that this imbalance is certainly aware to early contributors such as peri, jango and others. In the case of per and jango, they do not engage in voting for this reason (both were quick to point out). One solution is to continue issuing JBX, which will give more voting power to more individuals, but this also flies squarely against certain opinions to completely stop JBX issuance. It is a complex situation that has a lot of moving parts, and is inextricably linked to the JBX issuance/AMM situation mentioned above. Ultimately the thinking is that with these new changes, solutions may present themselves and we will see growth and directions in these domains.

Main Takeaways​

This call provided important information and helped streamline communication between the English-speaking and Chinese-speaking Juicebox member communities. The nature of questions remained substantive throughout and finding a cadence to have such calls seems like a good strategy moving forward. A huge thank-you to our members, both English- and Chinese-speakers, for taking the time to hop on this call and for having such open and transparent discussions. And again a huge thank-you to Zhape, who translated and managed the discussion and kept a good flow going!

If you held JBX before 2022-02-23 and have not done so already, claim your JBX!

We've seen some super interesting results from the Juicebox Benefits Airdrop which launched last month. ARCx has worked with us to collate and summarise some preliminary findings from the airdrop. Results below!

Definitions​

To fully comprehend the findings, it helps to quickly define the terminology used in our analysis.

Most of these findings centralise around a concept called the "Retention Rate". The retention rate is defined as the lowest JBX balance for an address after the airdrop. To better understand this, let's use an example:

0x123 claims 100 JBX tokens from the airdrop. They then go on to sell 30 of their tokens immediately after claiming. This address then waits a week, and buys back the originally sold 30 tokens. In this scenario 0x123 would have a retention rate of 70%, even after buying back the tokens, as it is the greatest amount of tokens sold after the claim.

This logic ensures that per address the retention rate can only go down over time.

The second concept to understand is the "Average Retention Rate". Many of these graphs aggregate the retention rates across all claimers in the airdrop. The average retention rate is defined as the average of all the retention rates for all addresses whom have claimed already. So, again using an example, if 10 addresses claimed the airdrop each day, then the average retention rate on day 1 would only consider the first 10 address and not any of the addresses who claimed on day 2, day 3, etc.

Findings​

The first graph shows retention rates 28 days after several major airdrops. The Juicebox Benefits Airdrop had unprecedented levels of hodling!

The next graph also shows retention rates, but instead shows them over time. After a brief selloff, retention was remarkably stable.

Next, we consider this same retention rate over time broken down across the 3 different score chorts (see JBP-114). Interestingly, the cohort with scores between 53-200 had the second highest retention rate, beating out the 201-300 cohort by ~15% at times.

Finally, we looked at how quickly each cohort claimed their JBX. Interestingly, the 53-200 tier fared better than the 201-300 tier in this metric as well.

Thank you to everybody who helped make this airdrop happen. More information and analysis will be coming soon!

Juicebox v2​

Jango's proposal to Deploy v2 passed by overwhelming majority. You can learn more about v2 on the docs.

Currently, v2 is scheduled to deploy on April 16th.

Frontend efforts are already well underway: as of 2022-04-07, the V2 feature parity milestone is 64% complete. Feature parity is Phase 1 of PeelDAO's roadmap for v2.

veBanny Frontend​

VeBanny has pushed into a new stage. We have completed all the Layers, Backgrounds and token spreads. The Ui for the VeBanny voting token minting site has been fully drafted. All contracts are written and nearly finalized. Next steps are to tighten up some front end pieces and start the build out.
―Mieos

For realtime progress updates, take a look at the Figma.

Juicebox High​

Juicebox High is live (and you are on it right now)! Join the Discord and send a message in #documentation if you're interested in contributing or have ideas for improvements.

You can use the new blog with your RSS reader by adding https://docs.juicebox.money/blog/rss.xml or https://docs.juicebox.money/blog/atom.xml.

Metaverse Festivities​

Lexicon Devils has some amazing plans for April! Here's the schedule:

Head to the Juicebox Lounge to join!

Juicebox in the words of​

Felixander has launched a new interview series called "Juicebox in the words of".

In his words: “Juicebox in the words of” is a series that highlights JB community members in interview form. Learn about members’ roles at JB and what makes them tick.

Interviews with zom, filipv, jango, and peri have already been published. You can find the latest interviews (and more) on the blog.

Vote!​

FC#20 temperature checks are live now. Head to the Discord and vote! Snapshot voting opens at 00:00 UTC on 2022-04-12.

You can claim your JBX here! For more information, read on.​

Background​

Juicebox's legitimacy as a DAO is built upon sufficient decentralization of power, access, and ownership. To accomplish this ideal, Juicebox must attract and retain an active community that has Juicebox's long-term interests in mind.

One of the most direct methods for improving decentralization is the airdrop. Several airdrop proposals were made to this effect in FC#15, all of which were rejected.

• JBP-103 - Distribute JBX to JBX Holders

• JBP-102 - Distribute JBX to Juicebox Projects

• JBP-101 - Distribute JBX to v1.1 Party Attendees

• JBP-100 - Distribute JBX to Nicholas’ List

• JBP-99 - Distribute JBX to Extended Community

As part of a new airdrop proposal, ARCx has crafted a Juicebox Benefits Score which identifies Juicebox community members based on their token holding behaviour and governance participation.

See JBP-114: Juicebox Benefits Airdrop

Score Methodology​

The Juicebox Benefits Program identifies and rewards active community members who hold Juicebox DAO’s long-term interests at heart. The score rewards active contributors by measuring governance participation, and rewards long-term support by measuring how long a wallet has held JBX.

Governance Factor (60%)​

The Governance Factor measures the number of Juicebox Snapshot proposals that a wallet has voted in. The wallet with the highest Governance score is given 600 points, and the wallet with the lowest score is given zero. All other wallets are linearly scored within those bounds—for example, a wallet that voted in half as many snapshot proposals would be given 300 points.

HODL Factor (40%)​

The HODL Factor measures the number of UTC dates that a wallet has held at least 1 JBX (either claimed or unclaimed). The wallet with the highest HODL score is given 400 points, and the wallet with the lowest score is given zero. All other wallets are linearly scored within those bounds—for example, a wallet that held JBX for half as many dates would be given 200 points.

How to Claim​

Visit airdrop.juicebox.money and connect your wallet to see if you are eligible. You can also claim a free passport to view this score (and other scores) on arcx.money.

On 2022-06-07 at 22:00 UTC, any unclaimed JBX which remains in the smart contract will be returned to the multisig for future use.

Your score on arcx.money might not be the same as your score on airdrop.juicebox.money. To prevent sybil attacks, the airdrop scores were measured at Ethereum block 14,263,369.

What's Next?​

Going forward, the community could use the Juicebox Benefits score to make new airdrops, to set up a gated Merch Squad collection, to make gated Discord roles, or even to create exclusive Juicebox-themed ARCx passport skins. These scores are verifiable onchain, meaning they can be permissionlessly used in smart contracts or used through an API.

Some other examples mentioned by ARCx include:

• Distributing airdrops equitably
• Boosting smart contract staking yields
• Verifying social status via Discord roles
• Offering free smart contract insurance to the best users
• Fee & product discounts
• Many more

This score evolves with your behaviour over time! Although the methodology could evolve, Juicebox Benefits projects aim to reward active contributors which support Juicebox's long-term goals. Your participation and support of Juicebox will be reflected in these scores over time.

If you have ideas or suggestions, share them in the ARCx Discord or in #jbx-benefits on the Juicebox Discord.

Verify​

Airdrop contract: 0x518e3CdBcda4f0735399c9F1e03A7aBC7562632f
Merkle root: 0xba0ccda021dd3008d51728ccd530dfe42d6bba07f8118d8a796e26d80e305009
Sweeper: 0xAF28bcB48C40dBC86f52D459A6562F658fc94B1e

Main Repository

Airdrop CSV

Merkle Root(use yarn && yarn generate-list to verify).

Airdrop contract on Etherscan

arcx.money｜ARCx Twitter｜ARCx Discord｜juicebox.money｜Juicebox Twitter｜Juicebox Discord

• Devs aren't just coders. Anyone who recognizes genuine inefficiencies and makes themself useful toward delivering great solutions is a dev.

filipv, STVG, twodam, zeugh, phytann, sage, mieos, nicholas, zom-bae, mrgoldstein, zhape, westlife29, linywan, peacenode, germs, gulan, and a few other JB friends don't contribute code to the core contracts or site, but they show up to dev everything else they recognize can add value: governance, tools, dev ops, analytics, Banny, cryptovoxels empire, Discord bots, podcasts, translations, education, bookkeeping, support, strategy etc.

• Devs are individuals, not entities. DAOs, VCs, corporations, campaigns, and projects may have great devs within them, but aren't devs themselves.
• Devs like to dev with other devs.
• Devs are often artful.
• Devs are never zero-sum thinkers.
• Devs should continue to improve how we build alongside each other at scale and audit each other's work along the way. More agency, less management.
• Leaders are devs who also delegate effectively between other devs. Any dev can be a leader, the more the merrier.
• Devs should continue to work towards improving the experience of other devs.
• Devs who build in the open have leverage.
• Resources follow devs.
• Power decentralizes as more people become devs.

JuiceboxDAO is running final tests on an updated/forked version of its Terminal contract. Once deployed and approved by JuiceboxDAO, projects will be able to voluntarily migrate their funds and accounting parameters from the V1 terminal that is currently being used to this new V1.1 Terminal with just one transaction.

There are many broader changes being developed in a V2 release scheduled for the coming months. V1.1 is a simpler change that still manages to provide crucial utilities and fixes for projects operating on the protocol.

Here's why a project might want to migrate to V1.1:

Features​

• Pause - Projects will be able to pause contributions to their treasury as well as subsequent token issuance on a per-funding cycle basis. Any new transactions – or pending low-gas transactions in flight – that settle after a paused funding cycle has started will fail.
• Mint - Projects will be able to allow itself to mint more of its own tokens on a per-funding cycle basis. During a funding cycle where minting new tokens is allowed, the project owner can submit a transaction to increase the token supply and send this new supply to a beneficiary of its choice.

Currently projects can only mint new tokens before receiving a first contribution.

• Burn - Anyone will be able to burn their tokens by redeeming them, even when there is no overflow.

Currently tokens are only burnable when there is some amount of overflow that is being reclaimed through the redemption.

• Off-protocol redemption value - Projects will be able to supply a contract to their funding cycles that tell the protocol how much value it is holding off-protocol, like in a multisig wallet or yielding vault. Projects can use oracles in this contract to convert the value of any other asset it owns into ETH for the protocol to use when calculating redemption values.

Currently redemption values are calculated only with the ETH the project has locked in the Juicebox Terminal contract.

• Fee cap - The protocol fee is capped at 5%. JuiceboxDAO can adjust the JBX fee from 0% - 5%.

Currently there is no fee cap.

Bug fixes​

• Fixed bug that prevents a project from updating its reserved token tracker when the reserved rate is set to 0%. This bug prevented the project from reconfiguring from a 0% reserved rate to any other value without inadvertently creating an extra reserved token supply inso-doing. See this postmortem.
• Fixed bug that prevented overflow from being viewed correctly when a funding cycle rolls over before it has had its newly available funds distributed.

Other adjustments​

• The contract is now directly Ownable instead of using an ownable Governance contract proxy. The JuiceboxDAO will own the contract, which allows it to set the fee, and allow other forked Terminal contracts for projects to migrate onto.

JuiceboxDAO 在 Juicebox 协议上运行其社区金库。它所使用的工具也是向公众开放的。点击这里了解协议的代币经济工具箱。

JBX 是 JuiceboxDAO 的成员代币。 它的作用是对各项提案进行投票，以决定 DAO 随着时间的推移应该如何发展。关于在 Juicebox 协议里面每个项目的代币可以通过编程获得的用例，点击这里进行了解。

感谢 Nicholas、Zom_Bae、Zeugh 和 Aeolian 的编辑及反馈。

JuiceboxDAO 目前按 208,920 JBX / ETH 的比例向任何给金库捐款的人分发 JBX 代币。这个比例目前每隔一周减少10%。现在有一个提案建议把这个减少比例提高到20%。

按目前的 60% 的赎回联合曲线比率，每销毁 679,652个 JBX，协议会从金库返还 1 ETH。现在有一个提案要求把这个比率提高到 95%，按这个比率的话每销毁 459,219个 JBX，协议就会退回1 ETH。

目前 Uniswap 上 JBX / ETH 的价格为每 1 ETH 兑换 446,380 个 JBX。

JuiceboxDAO 目前的代币保留率是 35%，也就是说每捐赠一个 ETH 给金库，除了分发给捐款人的部分以外，还有112,495个 JBX 被保留起来了。其中的30%分配给 DAO（dao.jbx.eth)、24%分配给 jango.eth、7% 给 peri.eth、 7% 给 nnnnicholas.eth、 7% exekias.eth、 4% CanuDAO、 4% 给WAGMI Studios。

观察​

• JBX 目前在类似 Uniswap AMM 这样的协议外市场上交易，价格在发行价格和销毁价格之间浮动。目前没有形成任何扩张或收缩 JBX 供应量的激励机制。

协议并没有提及协议外可能发生的情况。以下仅为我个人的假设，不构成财务建议。

• 如果市场上的 JBX 价格高于 Juicebox 协议内的发行价, 任何增发 JBX 的需求都可以通过向 Juicebox 金库捐赠 ETH 来得到满足, 因为金库收到 ETH 会相应地铸造及分发 JBX。

承担风险的套利者可能会有动力在当前筹款周期铸造新的 JBX 代币，来获取周期更新及折扣率生效后会出现的 10% 的价差。他们也可以通过铸造 JBX 代币转售给协议外市场上的买单，从而利用信息不对称进行获利 —— JuiceboxDAO 社区应该努力把信息不对称的机会降到最低。

无论是以上的哪种情况，都会让所有在早期筹款周期里以较低成本持有 JBX 的人受益 —— 他们持有的 JBX 占总流通量的份额将会降低，但支撑 JBX 价值的 ETH 金库的增长速度更大，这样就会有提高销毁价格的效果。

• 如果市场上 JBX 的价格低于协议内的销毁价格时，进一步抛售 JBX 的需求将能通过销毁 JBX 代币来获得金库溢出里锁定的 ETH 得到满足。

同样地，套利者可以通过销毁 JBX 然后买入协议外市场上的卖单来获取信息不对称的收益 —— 同样地，JuiceboxDAO 社区应该努力把信息不对称的机会降到最低。

无论以上哪种情况，都会令在抛压中选择继续持有 JBX 的持币人获益 - 每个按赎回联合曲线比率赎回的 JBX 都相应地留下部分 ETH （60% 的曲线留下来给其他持币人的比 95% 曲线时要多得多，放大了这个效应）。除了100%赎回比率，在其他所有比率的情形下，JBX 流通量的下降速度都会大于金库的 ETH 减少速度。这个机制会随着后面的每一次销毁轻微抬高 JBX 的赎回价格，从而增加代币价格的上涨压力、缩减供应量、只留下那些拒绝日渐增厚的退出诱惑而坚持建设的持币人。

• 随着时间的推移，市场价格在发行成本和销毁价格之间不断来回摆动，JBX 持币人的销毁价格将会上升并最终超过其 JBX 当时的铸造价格。

两端价格压力越大，代币持有人的赎回价格升高越多。另一方面，如果市场需求在协议外就得到满足，赎回价格则将维持不变。

市场尾部事件对 JBX 代币持有人最为有利，虽然这种有利是以一种节制的方式出现。唯一不能给 JBX 代币持有人带来好处的情况是对 JBX 的需求长时间缺乏变化。在这种机制下，我们似乎是在牺牲价格波动换取韧性。

• 各种提案经 JBX 代币持有人通过后，DAO 会每个筹款周期把 ETH 用于支付贡献者薪酬、服务费用以及各种拨款。这种支出带来的影响会波及所有 JBX 代币持有人，轻微降低每个人的销毁价格。

DAO也可以把 ETH 分拨到平台以外的多签钱包或者 web3 的其他各种合约里去。受当前 Juicebox 协议版本所限，这种价值目前不能计算到销毁价格里面。

• 只有在代币供应量增长的情况下，保留代币名单才能捕获价值。一旦代币供应量扩张且市场需求在协议外得到满足，保留代币受益人就会有巨大的动力把代币价格推向其上限。

• 即使没有代币保留率，铸造现有代币总量的 51% 也很昂贵。如果真的发生这种情况，用于铸造过半数代币的 ETH 会立即提升之前周期每个代币持有人的销毁价格。这个新的过半数 JBX 代币持有人将不得不安抚一个有重大退出动机的社区。

如果 51% 的代币突然被互联网上成千上万互不相关的人买走，也会是同样的效果。

• 目前30%的保留 JBX 代币分配给 DAO （dao.jbx.eth)。DAO 正考虑将积累的一部分代币通过 DAO 的 Discord 服务器投入到贡献者之间进行流通。

DAO 有很多方法来实现这个想法，其中一个方法就是先把这些代币分配给保留代币名单上的各个受益人，然后鼓励他们把所有的这些代币分配给那些与他们合作最为密切的人，以及那些他们认为做出令人认可贡献的人。我们鼓励那些人接着再把这些代币传递下去。

这样做的目的是保证所有建议及维护协议和生态的人都能成为举足轻重的 JBX 代币持有人，这样一来他们就能够正式帮助 DAO 做出各种决策。

如果这个内部的 JBX 分配机制能够提高新建设者和核心团队的治理参与度，那么通过增加 DAO 金库的保留代币分配份额并减少其他人的保留代币分配来扩大这个内部分配计划，可能会令 DAO 最终得益。