Meet $ROBOT: the governance token of MetaFactory.
We have spent the last 10 months experimenting, learning, and refining our mission. Today we are launching the culmination of our efforts and transitioning to full community ownership.
Journey into our dreams of a new future. pic.twitter.com/qVOtSE3VD1
— MetaFactory (@TheMetaFactory) October 1, 2020
We first covered MetaFactory upon the debut of their Genesis Bomber, combining elements of DeFi auctions and scarcity with digiphysical tokenized wearables to offer a unique product blend for web3 natives.
Now, MetaFactory looks to expand on that vision by adding a native token – ROBOT – into the mix to better align stakeholder incentives. Thanks to ROBOT, MetaFactory will now be broken down into three segments:
- MetaFactory DAO – For all governance decisions
- MetaFactor LLC – For company operations
- MetaFactory BotYard – Community multisig for the custody and distribution of ROBOT.
All together, ROBOT is used to govern the growing brand with distribution baked into the platform’s growth. In short, tokens are issued into the supply as more sales are conducted through MetaFactory, with ROBOT being routed to buyers, creators, and community participants relative to their monetary and social contributions.
Citing Placeholder’s Buyback model, excess ROBOT is likely to be recycled for constant liquidity, using Balancer AMMs to continually capitalize the system.
“The revenue from sales will go to the MetaFactory Entity and will be used to pay for recurring expenses and production costs for goods. ROBOT holders can then vote on how the surplus profits should be spent. For example, they could be locked in a Balancer liquidity pool to create a permanent incentive model with continuous issuance while preserving a fixed supply of 420k tokens.”
Here’s a look at how the genesis 420k ROBOT is issues relative to the various sales MetaFactory reaches as a whole.
Outside of the Genesis Bomber, you’ve likely seen MetaFactory’s merch floated around via the YFI hoodie, famously touting the signature tag ‘I Test in Prod’ optimally designed for the YFI logo to be visible on Zoom calls. This close tie between DeFi and physical wearables capturing the latest trend is one that shows strong promise for the community-owned and operated brand platform.
first edition YFI SUPPLY hoodie. premium agricultural workwear for the hardest working farmers. all profits will be used to purchase $YFI. limited to 100 units. made in California.https://t.co/VMFS35NErl https://t.co/1kKqHGZco5
— MetaFactory (@TheMetaFactory) July 30, 2020
With this new announcement, purchasers of the Genesis Bomber, Wicked Sunday Club or any of MetaFactory’s merch should be on the lookout for ROBOT tokens in their wallet used at purchase in the coming week. There will be no tokensale for ROBOT, and future tokens can only be earned through platform usage.
The launch of ROBOT comes in line with a growing trend of tokenization, with many projects choosing to issue governance power to their most value-added actors in the form of retroactive distributions. Unique to ROBOT is the ability for anyone with more than 500 tokens to receive access to the LLC’s operational expenses, offering a transparent view into the MetaFactory kimono historically kept private by the issue entities.
Overall, the fresh rebrand and launch of ROBOT are a strong signal that MetaFactory aims to stay on the cutting edge of web3 culture, one we’ll be keeping a close eye on here at DeFi Rate.
To stay up with MetaFactory, be sure to follow them on Twitter!
Cooper is the Editor of DeFi Rate and an active contributor to leading DeFi media outlets like The Defiant, DeFi Pulse, and Bankless. He works with early-stage teams through Fire Eyes DAO to incubate governance models and grassroots community development. He is an ambassador to Set Protocol and an author of a weekly publication called Token Tuesdays. To stay up with Cooper, follow him on Twitter.