TokenJenny DAO - Creating DAOs for EveryONE

Name of Project / DAO / Company

TokenJenny.ONE - DAO

Application type

DAO Formation

Proposal overview

TokenJenny started as a free token generator tool built on Harmony to enable anyone to create an HRC-20 token on the chain. Now, TokenJenny offers many unique features to the chain, for instance, Gem Mines (IDO platform), Pool Parties (constant APRs), Voting Booth (TokenJenny’s voting platform), and DAO Governance.

This application is to request additional funding to initialize the TokenJenny DAO.

The platform, at this stage, TokenJenny has an allocated supply of JENN tokens to help fund the DAO; however, it is not currently enough to pay the DAO board a reasonable amount without hurting investors.

Is TokenJenny DAO ready?

1-Token use cases to sustain project long term:

Fees:

  • 50% of Gem Mine entries
  • 1% of unstaking from Pool Parties
  • Fee from creating a Voting Booth
  • Premium Token Creation (Upcoming)

2-Multisig Wallet:

0x67D407F72A49553FBE3E40DA0473d73dC0dF0dE0 - Requiring Majority To Execute

3- Governance platform for proposals: READY

TokenJenny DAO

4- Voting Booth for DAO Re-elections: READY

TokenJenny.ONE (TokenJenny’s Voting Booth)

5- Initial 9 Governors: In Progress (Accepting applications now 5 Board/Advisor Seats Available - TokenJenny DAO)

J H JR. - Founder, Developer, DAO Governor

Coach Kent - DAO President

Aerias - Community Manager, Advisor, DAO Governor

J H SR. - Advisor, DAO Governor

UP FOR VOTE - Graphics Designer, DAO Governor

UP FOR VOTE- Social Media Manager, DAO Governor

UP FOR VOTE- Social Media Manager, DAO Governor

UP FOR VOTE- Medium/Article Writer, DAO Governor

UP FOR VOTE- Developer, DAO Governor

6- Tracking task and hours: READY

TokenJenny DAO: Tasks & Hours

What are our milestones?

1- Sustain the DAO treasury long term without hurting TokenJenny Investors

2- Create a space for smaller projects to create their own DAOs using TJ’s Voting Booth

3- Have an active role in the Harmony community (talk.harmony activity and on social media)

4- Encourage up and coming protocols to be active in the Harmony community as well

Work:

1- Accept or reject “draft” proposals on the governance proposals page,

2- Set weekly meetings with TokenJenny DEVs and TokenJenny community managers, so all are aligned

3- logistic/ tracking hours/ gatekeeper

4- Treasury

5- Weekly community progress (tweets and forum posts)

How much funding do we need?

Using a fair rate of $15 per hour

For 9 governors we will need: $1500 per week ($6000 per month)

Based on ecosystem growth, meaning more gem mines, pool parties, and voting booths, TokenJenny needs about 1 year to be a fully self-sustaining DAO that will be able to properly pay the DAO board without hurting investors.

Proposal ask

For one year TokenJenny DAO funding, we will need $72k

Metrics for success

  • Gem Mines: 50+ running at a time
  • Pool Parties: 50+
  • Voting Booths: Create 25+ DAOs for smaller projects
  • 50% Circulation In Liquidity (4.5mil JENN in circulation)
  • JENN token Price: $11.11
  • Marketcap (Circulating): $50M
7 Likes

TokenJenny has been a gamechanger for Harmony allowing new projects / tokens to start and build. The TokenJenny team have a solid reputation and are respected by many communities. Their track record of success and growth should give the Harmony team confidence that this funding would be money very well spent.

5 Likes

We just published a Todo List on our governance site. This serves as our roadmap for upcoming TokenJenny features. Check it out!
https://gov.tokenjenny.one/t/development

2 Likes

Thank you for submitting a proposal to Harmony’s $300M Ecosystem Fund

We are in the process of reviewing your proposal. We would also love :blue_heart: to have the Harmony community participate to ask questions and provide feedbacks.

If you have more details to add, please do so by replying to this thread.

2 Likes

Registered talk.harmony account today just to support JENN’s token proposal. I think this is crucial project for Harmony ecosystem and will bring many new people with great ideas. Not everyone has funds for developers at first stages but they might have visionary ideas that they can achieve with TokenJenny. It also could be used as form of crowdfunding/launchpad. I think JENN is doing so much more for Harmony than most of the projects that already received the grands

3 Likes

Hello again Harmony family!

Just wanted to announce that we have officially brought on 5 DAO governors to add to our team, in addition to adding an extra seat to one of our front end devs so he can help contribute more.

On top of this, we are thrilled to announce that TokenJenny will be creating a validator for the network once validators are able to interact with smart contracts. With a good 'ole TJ twist of course because our team always strives to add unique ideas to the network. Check out a rough idea of how our validator down below.

https://gov.tokenjenny.one/d/21-planning-tokenjennyone-validator

Also stay tuned for more updates. Our Dev team is working hard to fix current gem mine features to streamline process and other new developments of course too!

4 Likes

I hope TokenJenny is chosen for the grant. It’s been amazing learning about and creating my own tokens for fun and for educational purposes!

They’ve been around since the start and are totally committed to Harmony One and making a DAO that truly benefits everyone.

I’ve got big Harmony and TJ bags and believe strongly that TJ is essential for Harmony’s growth.

3 Likes

Hello @CoachKent -
Thank you for submitting your proposal. Like many in the community, I have used your product and I couldn’t be happier. I am happy to see you growing out your feature set and even setting up your own validator. Well done to you and your team.

Let’s take a step back and look at the guidelines for a DAO grant via /300.

100 DAOs ($50M). Governors of each DAO have delegated autonomy over its assets and initiatives. Harmony helps define 3 broad mandates, recruit 9 governors, define the deliverables and metrics for the first 3 months, and fund at maximum $1M.

Breaking that down - a DAO grant must have:

  1. 3 Broad Mandates
  2. 9 Governors
  3. Deliverables and Metrics for the next 3 months.

It sounds like you have your governors.

Detail out your 3 mandates and your deliverables and metrics for the next three months.

While you are doing that - I will circle back with the Grants Review Board and discuss what sort of milestones we need for DAO funding.

Thanks, @CoachKent! I look forward to seeing your mandates and deliverables.

Sam Harrison
Ecosystem Growth | Harmony

4 Likes

This team deserves the support they ask for and even more - lots of people have been helped and apparently will be in the future. If there is a project that has to be funded - that project is Token Jenny IMHO.
I wish you, success guys!

5 Likes

Mr. Harrison,

As a newly elected Governor of the TokenJenny DAO, I am pleased to present to you, as requested, the relevant information regarding TokenJenny’s 3 Broad Mandates and our Deliverables and Metrics for the next three months.

Mandates

• Egalitarian (Fairness/Equality).  TJ is committed to launching products fairly and accessibly to all across the Harmony One Ecosystem 
• Education: A well informed user is both a happy and regular user of products and services.   Education is a crucial step in both sustaining the present and growing the future
• Continuous Development/Innovation:  In concert with our other mandates of Egalitarianism and Education is the need for continuous development and innovation.  TJ’s roadmap shows an aggressive, yet achievable plan towards innovative development for both the next quarter and the next year.

3 Month Deliverables:

Deliverable 1: Complete setup and become an elected Validator within 90 days of DAO grant award. Target Completion date: 2/1/2022.

• Objective of Deliverable:  Demonstrate continuing commitment to decentralization and the Harmony One protocol by spinning up Token Jenny validator with unique reward system. 

• Success Metric: Obtain sufficient Harmony One to become an elected validator.

Deliverable 2: Complete and Launch Jenny’s Study Halls
Target Completion date: 12/31/21

• Objective of Deliverable: Study Halls is designed to reward users with various Token Jenny created cryptocurrencies for completing short educational quizzes, in a similar fashion to Coinbase's short quizzes to earn various currencies.  

• Success Metric: Develop and launch initial phase of project and deliver at least 1000 unique visitors to participate in Study Hall quizzes.

Deliverable 3: Complete and launch Jenny’s Lemonade Stands
Target Completion Date: 12/15/21

• Objective of Deliverable:  Building on the success of other $JENN products, Token Jenny will launch Lemonade Stands, a new deployment approach that can be deployed by any token owner to allow them to setup and form their own “presale” of tokens, depending on their desires and chosen tokenomics model.  From simple “First Come, First Serve” models, to more complex Whitelisting, Competition and Bid presales, all with their own unique advantages and approaches.

• Success Metric:  Complete deployment of Lemonade Stand feature and obtain at least 20 new project/token launches.

I hope this meets with your approval. Please do let us know if further clarification and/or details are required.

Best Regards,

Generationcrypt3, on behalf of the TokenJenny DAO Governors.

4 Likes

The proposal is unique. We typically would like to see a quarterly DAO setup, and since it’s a previously launched product with a DAO initiative, it would make sense to fund up to $25K for the DAO every quarter.

Congratulations! :tada: Approved for $72K (and up to $100K) for a period of 12 months.

We’d like to raise the bar on the hourly rate to help attract talent in the DAO space, and prefer TokenJenny match a part of the rate to get closer to a competitive hourly rate. If you are able to retain the talent due to the intense passion, we praise the TokenJenny community.

Governors of each DAO have delegated autonomy over its assets and initiatives. Harmony helps define 3 broad mandates, recruit 9 governors, define the deliverables and metrics for the first 3 months, and fund at maximum $1M. We recommend $75 to $350 per hour as the self-assessed salary, 3-month election terms, retroactive peer bonus and performance feedback, 80% passing votes, and openly tracking timesheets and deliverables for each member.

6 Likes

On behalf of the TokenJenny team, we would like to thank you for this amazing opportunity and your praise!

As for raising the bar on hour rates, the TokenJenny treasury has, and will continue to pay our DAO governors 700 JENN per week on top of the ONE being received in this grant. According to the current charts, paying each governor 700 JENN and 700 ONE per week would have an hourly rate of about $46 USD per hour. These rates would help TJ achieve a pay rate that is closer to the current competitive rate. We would love to be able to pay our governors more; however, it is not in the cards at this current time due to the fact we do not want to hurt investors.

On the topic of moving this grant process forward, I have just sent all required KYC information to kyc@harmony.one according to the instructions on Harmony Funding FAQ. Hope to hear back from the Harmony Team soon about the next steps for the grant process.

Coach Kent
TokenJenny DAO Governor

1 Like