Creating an ENS governance token has been proposed by so many people. Even though tokens can increase “skin in the game” and increase network effect, it can also be used for governance take over (which did happen in a few Defi projects recently).
“grant token” is less risky to start with as the impact of any sybil attack can be limited to the amount we commit to allocate as grant.
Do you have any data to share how $OGN tokens are increasing their ecosystem? I have looked into their site, but they don’t set any link to dStore site their members and there is no analytics site so hard to see what they are doing (also do they support ENS?)
That would work for Origin as Dstore space is limitless whereas good ENS names are scarce so squatters will squat imho
That I agree. Even though .eth registration is for anti-squatting not for the source of revenue, increasing brand of ENS align with the overall increase of their asset. The question is how to design token models which take the balance of various stakeholders. How do we prevent squatters vote to remove annual rent so that they can squat as many as they want?
yeah, I think website template is important. “Alpress Self-Governing Publication Platform” which was presented at the last ENS workshop ENS workshop 2021-1 show & tell projects to present - #11 by mdt is aimed at that purpose so we could potentially aid projects like that.
Are there any projects which are working with this model for more than 3 years? I know Kyber started back in 2017 and they have burn model but not sure how much it’s contributing to the token price.
When ENS launched back in 2017, it was the beginning of the ICO boom and the following crypto winter led to “Token = bad”. That changed last year during Defi summer but there are still lots of unknown whether the token governance model will be successful in the long term. I think starting from “Grant Giving DAO” is a good way to start testing the water than going full token governance.