fully agree here - especially given the discussion on the Stablecoin Factory post about what the gov token is expected to govern.
I’ve become wary of liquidity-provisioning related distributions - given the lessons learned during the DeFi for the People liquidity mining campaign on Sushiswap cUSD-cEUR pool where folks withdraw liquidity once the rewards are disbursed. Yield farmers aren’t necessarily the best governers:
This leads me to think “who are the ideal Mento gov tokenholders?” possibly:
- new stablecoin issuers who have to lockup X gov tokens for Y time before launching a new instance from the factory
- individuals who use cStables as a “means-of-payment” (as in the Celo whitepaper) rather than purely a store of value that is monetized for other currencies
- collectives/protocols that deposit cStables in RWA lending pools locked for X amount of time (eg. Credit Collective)
- external DeFi protocols that specialize in delegated governance (eg. Event Horizon)
- capital providers to stability pools and CDPs across instances of the stablecoin factory
- folks who, for whatever reason, care deeply about Mento’s mission and contribute in kind on forums, community calls etc.
in essence - I think this is a huge leap forward for Mento and am supportive of the gov token plan, but agree with @papa_raw that the devil is in the details and look forward to brainstorming more on community calls!