There are two dynamics that impact the amount of value backing the tokens at any given time.
The fiat pool will be topped up weekly, without minting new tokens, effectively increasing the exchange rate (all else being equal).
Last replenishment: $600 on January 17th
KPI and Bounty Rewards
For every new Council term, Jsgenesis will create Council KPIs, each assigned a USD value. If the goals are achieved, Jsgenesis will reward the Council without affecting the exchange rate.
Jsgenesis will also create Community KPIs, similar to bounties, but managed by the Council. These are also assigned a USD value, and if achieved, Jsgenesis will (indirectly) reward the individual or group that achieved the goals.
For the governance process to function properly, all proposals must be processed effectively, and in a reasonable time frame to avoiding blocking new proposals coming in.
There needs to be some level of accountability and transparency for the Council. For each Term the Council must produce a report of 'events' and 'Tokenomics' to allow users to make informed votes. This must be submitted as a PR to the Community Repo.
The Council must appoint one of their own as the Council Secretary, responsible for adding Council Reports and representing the Council in the Community Repo (with some enhanced repository maintenance privileges).
In order to have a reliable network, a KPI focusing on block production and validator stability is required. Timestamp of each block can be found using the block explorer.
In addition to the regular tasks, the runtime upgrade will require extra work in terms of management. In particular as the Curator Working Group module will be changed.
Start the Joystream Sprocket based on issue #1966 in the 'joystream' repo. At least $200 of funding will be made available initially by Jsgenesis.
Managing Community Bounties will be a growing part of the Council's workload. Establishing good workflows for this will be iterative and situational.
To initiate an exchange, set your memo to an BCH address of your choice and make a transfer to Jsgenesis burner address: 5D5PhZQNJzcJXVBxwJxZcsutjKPqUPydrvpu6HeiBfMaeKQu
Tokens sent to Jsgenesis in this exchange are burned, hence the final price of the token is unaffected by such an exchange.