This article formally introduces the first four WagieDAO companies and describes the mechanisms through which they generate income. We will also outline how WagieDAO ‘paydays’ work and introduce the “New Employee Bonus” giveaway for those participating in the NFT mint.
WagieDAO Companies
WagieDAO will launch will four companies out of a maximum of seven. Each company is made up of 100 Wagies, with each Wagie representing a 1% stake in the company (both for payouts and voting rights). The four companies and their income generation strategies are as follows:
- McBurger Hospitality (Risk Tolerance: Moderate)
* Investment Strategy: Sweeps and Flips NFTs on OpenSea / Rariable - Dept. Public Service (Risk Tolerance: Conservative)
* Investment Strategy: Emerald Stablecoin Pools (USD and Rose-pegged) - The IT Dungeon (Risk Tolerance: Moderate)
* Investment Strategy: Emerald Asset-Stable LP Pools# - Bezos Industries
* Investment Strategy: Emerald Asset-Asset LP Pools#
#N.B While asset in this instance may refer to to any token, priority is given to $ROSE, e.g ROSE-USD pools in the case of the IT Dungeon
How Companies Work
Companies at a basic level are simply multi-sig wallets that serve the purpose of receiving deposits, transferring funds to a given investment strategy, or distributing $ROSE to Wagie NFT holders. Each company has its own smart contract that facilitates this and which tracks the relevant state of the company — e.g. upcoming paydays, past payouts, strategy APY, etc. The company smart contract is separate from the investment strategy itself, allowing flexibility in altering strategies without affecting the company pool itself.
However, what is set by the company is the reinvestment percentage. What this represents, is the percentage of company income that is paid out to holders vs being reinvested to grow the pool. By default, this is set at 50%, but can be changed to any value between 0% (only payouts) or 100% (only reinvestment).
Payday & Bonuses
The first WagieDAO Payday is scheduled for March 12, 2022. Following this, each company will pay $ROSE to Wagie holders on a monthly / bi-monthly basis (depending on the setup of the strategy). $ROSE will be deposited directly into the wallet holding the Wagie NFT and no ‘claiming’ or other action is needed by the holder for this to occur. Any Wagie NFTs that are currently listed for sale (‘hire’) in the WagieDAO HR Department are considered owned by the seller while under escrow by the contract.
As per the chart below, 80% of available income generated by the company is paid out directly to Wagie NFT holders. 10% is directed to the team / treasury, and 10% is paid out as bonuses to eligible Wagie NFT holders. Of this 10% bonus allocation, 1% is paid to the holder of a randomly selected Wagie as the ‘Wagie of the Month’. The remaining 9% is distributed to Wagies who have their ‘standardPay’ bonus set. This bonus is awarded to Wagies of those who are active in building the community, participating in community events, or in WagieDAO up-skilling events. Wagies retain this bonus when traded increasing their future sale value.
N.B Bonuses do not affect the proportion of funds received if token holders vote to close down the company and payout the entire investment pool to holders. See our documentation for further details regarding this.
New Employee Bonus Scheme
A once off bonus will be paid to the holders of five randomly selected Wagies who are minted in the first WagieDAO Training Day on 23 Feb 2022. These Wagie holders will each receive a payout of 100 $ROSE into the wallet that mints a Wagie NFT. Minting a minimum of one Wagie NFT is the only requirement to become eligible for this bonus.
