MIP-12: Treasury token burn

PROPOSAL OUTLINE

The Mozaic DAO proposes a systematic reduction of its treasury holdings of $MOZ through a single token burn. This initiative will burn 140M $MOZ tokens, representing 14.37% of the total supply. This burn directly addresses community concerns about excess unallocated treasury tokens by permanently removing them from the supply.

SPECIFICATIONS

The Mozaic Treasury currently holds 452,251,797.51 $MOZ tokens, representing 46.4% of the total supply at the time of writing. The Mozaic DAO proposes to execute a single burn of 140M $MOZ tokens within seven days of the approval of this proposal. Upon completing the burn, the Treasury will retain 312.25M $MOZ tokens, representing 32.05% of the total supply. These remaining tokens will be allocated through future DAO proposals.

The DAO’s multi-sig wallets will authorise the burn transaction, ensuring transparent and verifiable execution.

JUSTIFICATION

The Mozaic DAO Treasury currently holds a significant portion of unallocated tokens that exceed its operational requirements. This surplus has raised legitimate concerns within the community about potential future dilution. The proposed burn provides a clear, verifiable mechanism to permanently remove these excess tokens from the supply while maintaining sufficient reserves for planned development initiatives.

OVERALL COST AND IMPACT

This proposal has no direct financial cost to the DAO as it burns only unallocated Treasury tokens. The burn represents a 14.37% decrease in total supply while maintaining sufficient tokens for development initiatives and strategic partnerships.

TIMEFRAME

Discussion/Temperature check: 48 hours
Snapshot voting: 72 hours
Token burn execution: within 7 days of approval

STEPS TO IMPLEMENT

Upon approval of this proposal, the Core Contributors will:

Execute the 140M $MOZ burn within 7 days of approval
Provide proof of burn transactions by sending tokens to the 0x0000…dead address
Document and verify each burn by conducting the following: a. Transaction hash verification b. Treasury balance updates c. Community announcements d. Updates to CoinMarketCap and CoinGecko

CONSIDERATIONS

Quorum threshold: 4,000,000 $xMOZ - maintained
Snapshot voting requires at least 65% of the vote weighting for a proposal to be considered “APPROVED”
The burn will be verifiable on chain.

start

November 7, 2024

10:23 AM

end

November 10, 2024

10:23 AM

Voting

off-chain

Voting type

quadratic

Voters

Votes

3,836,163

Final Votes

closed

For

3.8M xMOZ

100%

Against

19.6 xMOZ

Abstain

0 xMOZ

item label

Placeholder title of a dao proposal

DAO name

0x000000000000

Mon 00, 2024 00:00

About Voters Analytics

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Voting

100,000

Voting type

100,000

Starts in

100,000

Voters

1,000,000

Votes

1,000,000

Votes

Choice label

TICKER

100%

Choice label

TICKER

100%

Choice label

TICKER

100%