Designing positive feedback loops to ensure long term growth
I’d like to start this article out by thanking everyone who has joined us on our Defi journey thus far. Without you, we wouldn’t have made it here without a token. It’s been 8 months since our launch and we’ve proven to ourselves, and hopefully to all of you, that we have what it takes to be a top organization in the Defi space without any venture capital backing.
Byte Masons Today
Byte Masons are 28 talented individuals, 16 of which are software engineers. We’ve developed industry-leading legal and operational infrastructure, beautifully designed security operations, and a boatload of software that we’re excited to show you. We’ve automated our payroll with smart contracts, we’ve secured a Certik retainership, and our engineers are following our footsteps into defi and security fellowships like Kernel0x and yAcademy.
This is just one month of achievements.
The pride I feel in our team and this organization is difficult for me to contain. Byte Masons is a name that’s becoming synonymous with excellence, and we will do everything in our power to keep it that way.
We’ve built out the infrastructure we need to grow, and by golly we’re gonna do it. The token is coming. This will be how we give you all the keys to every piece of software we’ve made and will ever make in the future — our attempt to direct the hard work we’re putting in on Fantom toward public good.
Over this next week there will be a ton of events hosted by ourselves and our partners to help you understand what’s coming next, and what to expect as we creep closer to launch. This has been a long time coming, and we’re working overtime to ensure it’s as special for you all as it is for us.
Watch out for some changes to our Discord server as well, as we set ourselves up to manage multiple projects. Reaper.Farm channels will now be joined by Reliquary, Learn, and future channels. These will be strategically designed to give you the ability to opt into feeds and chats you’re interested in.
We’ve built a novel LGE system that allows us to hand out discounts to community members using NFTs. Not only does this mean we can target dedicated Fantom community members, but we can issue NFTs to our own community members to ensure they can grab some tokens at a reduced cost. This ensures shares are distributed to people who have helped make the Fantom and Byte Masons communities what they are today.
Check out the picture below for more detail, and visit this spreadsheet to see if your community is included:
Attached to each NFT will also be a set of Terms, including a linear vesting period, allocation, and discount %. We will adjust these terms based on the circulating supply of these NFTs, their rarity, holder concentration, and the size of the discount. Users’ terms will be averaged over each allocation they wish to fulfill, and there’s no limit on the amount of shares they can purchase.
As you can probably tell from the below chart, we are emphasizing long term growth over anything else in our launch strategy. With our methodology, circulating supply day one will be ~13.7%, a vast majority of which will be inside liquidity pools for trading. Only after 90 days will our circulating supply hit 30%, and from there emissions will last a decade or more. This will help us ensure growth and revenue will outpace inflation up to the total supply of 400,000,000. I will drill into decision making for each piece of the pie in the below section.
Liquidity Generation Event tokens will be issued to all the participants in our LGE and placed strategically into Liquidity pools on Fantom and eventually other chains. This will be the foundation of our Protocol Owned Liquidity strategy and will be instrumental in allowing us to optimize our liquidity spread. We will work hard to find a perfect balance between volatility and market depth to ensure trading volume is as high as possible — this is a vital requirement to receive a Chainlink Price Feed for the token, which will allow us to plug into lending protocols.
Marketing tokens will be used to secure important partnerships and facilitate our longer term strategies. Consider these auxiliary funds which will be used to seize opportunity as it’s valuable to do so.
Market Making tokens will be used to facilitate CEX listings or secure contracts with professional market makers. Listings on major exchanges like Binance and Coinbase are high priorities, and we’ve assigned a specialized business development team to focus on execution. This is a long and difficult process but we’re committed to bringing Byte Masons to the masses.
Vested Team Allocations will be vested for 4 years and distributed among our existing team of 28. This will ensure we can secure the talent we’ve worked so hard to acquire and train. Personnel development is going to be an important part of our strategy, and we plan on maintaining one of the most talented teams in web3.
Remember what I’ve been preaching since there were just three Byte Masons: $100,000 spent hiring an engineer will create ten times more value than $100,000 allocated to incentives. This value, over time, will create exponentially more value for investors.
Talent Acquisition Following the above theme, we’re saving a large chunk of our total supply to grow the team. Following an onboarding and monitoring period, new hires will be offered 4-year vested allocations. These allocations will become more cost-efficient for the organization as our market cap increases, thus creating a massive feedback loop between value creation and growth.
Incentives will be used to drive new usership to our software. The yield market is competitive, and we will emit tokens strategically to find our place within it. Expect to see many of these in our Reliquary contracts and wrapped into future software releases. Our emission strategy stretches into the 5–10 year timeframe, but is subject to change with market conditions.
Buybacks will be an integral part of our value capture strategy, and purchased tokens will be re-allocated to auxiliary reserves, mainly for talent acquisition and marketing.
A Special Invitation
If you’re reading this article, it’s very likely you’re a follower of the Byte Masons. Over the next week, we will be releasing clues that will lead you to a $5000 prize and a significant whitelist opportunity for you and your friends. Pay attention to all of our social media and attend all the events below to acquire clues and earn whitelist opportunities and prizes.
In the pipeline….
I’ve outlined some of our projects below that are in the final stages of their development cycles. There’s plenty of stuff that isn’t ready to be placed on a roadmap, but rest assured this is the tip of the iceberg.
Learn.bytemasons.com is our first step towards dominance in the defi education space. We’ve got 5 brilliant researchers writing killer content around the clock. This will be a key component in our long term marketing strategy and help greatly in our mission to have the most intelligent community in all of crypto.
Reliquary is our solution to all the problems we see in farming infrastructure, and will help to unlock billions of underutilized dollars in yield farms. Receive a composable NFT that gains value over time, granting you increased rewards the longer you hold it — claimable on demand. Leverage it or sell it OTC and get a premium on its maturity. No locking required.
Gauges: Did someone say locking? Shortly after Reliquary’s launch, a custom, lightweight gauge system will be deployed on top of it, handing control over to token holders. This will allow interesting new farming strategies for both individuals and enterprise, and this gauge architecture will be an important part of our value capture strategy for each product we release going forward.
Reaper crypts are going to keep getting better as we continue to battle for market share, advancing our front and back end architecture to deliver the best, most secure investment vehicles on the network.
Lending has been in our sights for quite a while, and Reliquary gives us an awesome excuse to whip up a novel new system. Collateralizing, fractionalizing, and issuing notes on all the financial NFTs flooding the ecosystem is a big goal of ours, and we’re working on architectures to do just that.
Ventures have been a big part of our growth strategy for a couple months, as we imprint our operational strategies on partner-projects and beef up their security practices. Scream, Revenant, Beethoven, Robo-Vault, and Granary are all on our current roster, and we’re excited to add additional projects as our company grows.
Reserve Currencies are hot, and we’ve been sitting on system prototypes we believe will change the game. Byte Masons seek to deliver the lowest risk, highest yield asset on the market, leveraging every aspect of our defi ecosystem.
I hope all the information in this article will be useful to everyone. Our team is extremely excited for this event, and have poured months of planning and projection into it. Follow our social media accounts for up-to-the-minute updates on launch and chances to win whitelist opportunities.