MIP-1: MIST Tokenomics, A Proposed Catalyst for Growth

MIST is the key to accessing incubated projects’ revenue and would only really be acquirable via purchasing on Uniswap. Alchechads would be required to stake their coins for a year and Alchemist has only existed for a year and a half. I would imagine, many people could see the benefit, and risk, in locking up their coins for a year, as such I feel that they should be rewarded with MIST inflation proportionally to the value they provide to the Alchemist ecosystem.

Alchechads would be the liquidity and stability reservoir which could be drawn upon by incubated teams to help turn MIST into fiat currency. I believe this value add to the Alchemist ecosystem deserves less than 50% and greater than 5% of inflation.

To the Alchemist Council I’d like to say that, this proposal, MIP-1, has been very well thought out. And it is very well written and it covers a very important topic.

I do think that $MIST tokenomics are the second step, in analyzing our project, Alchemist. The use case drives tokenomics, not the other way around.

I propose that we begin an examination of our current use cases within the Alchemist Ecosystem, and document where we are as a project, with developers and with dev-ops.

Given our current token price and our current uniswap daily volume, combined with the significant amount of $MIST treasury holdings, the $MIST token price is important to us.

And with this dangerously low level of interest in Alchemist
– I suggest we consider creating a new Alchemist Ecosystem project, that is a service, and it is paid for in Ethereum by users, and it is governed by $MIST.

The first few things that came to mind were Ethereum 2.0 staking, Yearn Vaults & Inverse Finance’s - Anchor Money Market. These were only examples.

If we didn’t have the individuals we needed to contribute to such an undertaking, we have other avenues we can explore.

However, I strongly believe that our use cases will be what helps us break down the tokenomics.

Thank you for the MIP-1, it is a very well put together document. And I look forward to all comments.

Around a year ago we internally scoped out the work involved in running an ETH 2.0 validator node/staking network and at the time it was apposed by the reward and competitor advantage/domination of LIDO

Maybe it’s time to revisit this, only comment would be that the current active builders within Alchemist would not be able to afford the capacity to execute on this, so this will need to be factored in as part of the scope.

Identifying who could lead the effort to look into this further, or seeing who would put their hand up to this might be the biggest hurdle to overcome, unfortunately I don’t have the capacity to do this otherwise I would have been willing to contribute here.

1 Like