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Samara's Tokens

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4/18:
Did some more redundancy edits and language clarifying/cleanup. Also tried to keep the SEEDS/Seeds usage consistent. Think it's good to go. 

Introduction

Samara tokens are a type of cryptocurrency that represent an asset or specific use and reside on the Telos blockchain. Tokens are designed to work as a medium of exchange wherein individual token ownership records are stored in a ledger. Samara is utilizing four types of tokens:

  1. Samara Token (SAMARA) - represents the value we are creating and holding together (similar but different to equity)
  2. Samara Voice (SVOICE) - represents the voting power of individuals, this is a non-transferrable token that decays over time according to a "decay schedule"
  3. Fiat Bridge Token (HUSD) - represents a 1-to-1 value in United States Dollars and can be redeemed for non-tokenized US Dollars. 
  4. Seeds Token (Seeds) - the global utility currency brought to life by the SEEDS Movement to span circular, regenerative economies 

SAMARA Token

The SAMARA token lies at the heart of what we are building together. It encapsulates our work, our values, and our assets and rewarding people with this special token means we are entrusting them with a piece of Samara, not unlike a piece of ownership in a traditional organization.  The breakdown for the SAMARA token is as follows:

  • 1$ contribution or 1$ investment = 1 SAMARA (Samara Token)
  • For each 1$ quest or role contribution to Samara, or for each 1$ investment in Samara contributors/investors get 1 SAMARA. 
  • Samara contributors also have the option to choose other tokens as compensation, depending on the tokens Samara has available at a specific time (see Samara's Compensation Model)

Multipliers for Samara Token

In the early stages of Samara, each contributor/investors tokens issued are multiplied by a factor to reward them for taking on the risk and believing in Samara as pioneers. The value for the multiplier changes when the risk reduces after important milestones are reached, such as securing additional funding or significant value inflows for services rendered. 

Current proposed multipliers are:

  • “2” multiplier for December 2020 - February 2021 (before the quest to Hypha);
  • “1.8” multiplier for March onward (lower risk from going into the Hypha-funded quest) 
  • Further multipliers TBC.

Multipliers are subject to change through DHO vote.

SVOICE Token 

The voice token is critical for the governance of Samara. Voice tokens must be earned over time and cannot be transferred or exchanged with other members. In the DHO, these tokens also "decay" over time, meaning every member will loose voice token over a special schedule, a "decay rate" that is set up for the DHO. In other words, if you stop participating and contributing to Samara, you will eventually lose all of you voice tokens and no longer be able to vote in DHO decisions. The breakdown for the SVOICE token is as follows:

  • 1$ contribution = 1 SVOICE 

Contributions from investors do not get SVOICE.

Membership Badge Voice Rewards

Voice tokens are linked to membership badges; once you earn a membership badge, all of your current active assignments, contributions and quests will be multiplied with a factor (outlined below) until you no longer hold the badge. There is only one active membership badge. 

Level Criterium
Apprentice You will receive an additional 5% on SVOICE for any earnings from activities.  
Fellowship You will receive an additional 10% on SVOICE for any earnings from activities.  
Council  You will receive an additional 20% on SVOICE for any earnings from activities.  
Alumni You will receive any additional 10% on SVOICE for any earnings from future activities, if you decide to join Samara again.  

Exact multiplier formulas are subject to change through DHO vote. 

HUSD Token

The HUSD token is a bridge between the fiat currency and the crypto currency, representing a 1-to-1 value in USD that can be redeemed for US Dollar equivalent. The "H" comes from the originator of this type of token, which is Hypha (there is no ownership associated with this naming convention). HUSD is currently used by Samara to compensate members of Samara for their fiat needs; HUSD can be redeemed on the Hypha DHO for BTC/EOS/ETH etc., which can easily be exchanged for USD or other fiat currencies through various currency exchanges. 

Seeds Token

SEEDS is the foundation for a new regenerative currency enabling a new kind of economy that is no longer based on extractive practices of the current financial system. There is plenty of information available on the SEEDS website, such as the introductory video Growing a Cooperative Financial System. The breakdown for the Seeds token is as follows:

  • Samara currently has a small amount of Seeds from angel investors. 
  • The Samara blockchain account name is ‘samaradhoooo’.
  • At this stage, the ‘samaradhoooo’ account will make the payments of all non-voice tokens to Samara members. Voice tokens will be managed in the DHO account when this becomes available.

Going further

Samara will evolve token allocation, introduce new tokens, adopt the DHO platform, manage token allocation with much less manual work. 

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