Sprout is an abflationary asset protocol with a goal of marrying altruism with capitalism.
The Sprout token contract has been conceived with a minified, inbuilt governance protocol alongside the separate treasury DAO. On the surface level, a majority of holders can quickly and efficiently update their votes. And if the majority all vote for a new treasury address, then the 0.5% DAO contribution (from the burn fee) will be rerouted to the new treasury address the moment the treasury gets updated.
But we also chose this unique governance mechanism for two primary reasons.The first is that of upgradability in regards to the DAO governing the treasury. Innate governance permits not only updates to the DAO without affecting the underlying token contract (and its security), but also serves as a failsafe in case the DAO contract breaks. In that unlikely scenario, the token will continue to work without any interruption or intervention needed.
Secondly, it allows for voters to choose to update and use a new DAO if the current DAO is not meeting the holders’ purposes. A majority can quickly elect to go from a non-profit to a profit DAO, or from profit to non-profit, or simply route the treasury payments to a completely separate system, or even just a single donation address. The protocol creates a sort of DAO-ception where a governance mechanism is able to delegate the funding of another more complicated governance mechanism to be built on top.
The aforementioned 0.5% contribution (from the burn) goes into the DAO treasury, whose address can be directed and further redirected only with the built-in Minified, Stratified DAO’s governance. We imagine things will at first go to simple charities — the Gitcoins and Giveths of the world. But Sprout can and should be much larger. We can decide to invest in other powerful new DeFi projects or execute further opportunities to grow the DAO and reward its active members. The governance could eventually use the treasury to provide insurance, healthcare, Universal Basic Income. What if one day it built highways or schools? What if we fund multiple independent and specialist DAOs all working in sync to grow not just Sprout but common goods around the world, too?
Anything is possible with Sprout. And the mechanism that makes it all work is how whales, holders, and users alike are ALL rewarded and ALL debited on Sprout. If money is your thing and you want to be a capitalist, then the token’s simple abflation (and removal from public circulation by way of the treasury) means it will increase your holdings. Easy. However, if you’re like many of us, looking for ways to grow your holdings and utilize something new as well as give back to the community, you can feel good knowing you’re contributing to something greater and grander.
With Sprout you might think you’re just here to make money. But we promise that thanks to its unique programming, we’re gonna make you into a philanthropist as well.
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