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: $150 on September 20th
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 professionally, 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 make informed votes. This must be submitted as a PR to the Community Repo.
In preparation for some changes to the KPI system, 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.
The Community Repo needs a cleanup and to be re-organized for the new network. Note that for PR to 'count' the Council Secretary must request a review by Jsgenesis (@blrhc and @bwhm) and include a link to an approved Proposal for said PR.
New Leads for the Storage and Curator working groups are needed for Alexandria.
Managing Community Bounties will be a growing part of the Councils workload. Establishing good workflows for this will be iterative and situational.
To initiate an exchange, set your memo to an XMR 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.