Contents
This is a draft. Numbers marked † are proposals and may change before launch. Nothing in this document is an offer to sell anything or advice to buy anything. Section 13 lists the ways this can go wrong. Read it first if you are here for the token.
8. Where spent $ELSE goes
Every $ELSE spent in the city is split three ways†:
| Share | Destination | Purpose |
|---|---|---|
| 50% | Burned | Removed from supply for good |
| 30% | City Treasury | Event prizes, matching funds for public works |
| 20% | Operations | Servers, development, moderation |
The Treasury and Operations wallets are public. The split is carried out by an on-chain program in a single transaction, so there is no step where the full amount sits in a wallet someone controls.
Two things follow from this design, and we would rather say them now:
- There are no emissions. No tokens are held back to pay rewards. Everything the Treasury pays out was first spent by someone in the city.
- Rewards scale with activity. If few people spend, the prize pools are small. There is no staking, no APY, and no fixed return of any kind.