Things have been a little too quiet in the Sarcophagus ecosystem for a little too long. It’s time to shake things up and do whatever we can to share the novelty and utility of an on-chain dead man’s switch. Given that over 53% of the total token supply is owned by the DAO, it is time to use these latent tokens to incentivize positive actions on-chain. Below are several token incentives that current $SARCO holders can benefit from, as well as benefits for new users looking to use the application.
There is a need to cover the costs of moving $SARCO from ETH to BASE. To do this, we have allocated 7,499,493 $SARCO (27% of remaining DAO tokens) as a budget to cover these costs + additional time-based incentive.
- The holders of $SARCO on ETH will be snapshotted prior to the announcement.
- Each wallet that bridges their $SARCO from ETH to BASE using SuperBridge will be reimbursed with 12,776.77385159 $SARCO to cover the gas costs of bridging.
- Snapshots of $SARCO holders on ETH and BASE will be taken on the 14th of each month for 3 months.
- Reimbursement for these bridges will be distributed on the 15th of each month for 3 months.
- Reimbursements will be sent on BASE.
Sarcophagus is too expensive to use on ETH, and having token liquidity around a bunch of different chains does not help drive forward the mission of building a decentralized dead man’s switch.
BASE is most likely going to be the most stable L2 in the future, so the Sarcophagus team has decided to move all efforts to BASE. The app can still work on existing deployments, but core team efforts will no longer focus on other chains. Legacy chain implementations can be accessed at legacy.sarcophagus.io.
- Only one bridge transaction per wallet will be reimbursed.
- Only $SARCO bridged through SuperBridge will be eligible for reimbursement.
- Reimbursements will run for 3 months.
- Only $SARCO bridged from ETH to BASE will be eligible for reimbursement.
- Any attempt to game, loop, sybil, or otherwise manipulate the system will result in blacklisting from future rewards.
- Token contract addresses:
To make it as easy as possible for new users to try Sarcophagus and create their own dead man’s switches, we will reimburse any user that creates or re-wraps a Sarcophagus on BASE.
- Reimbursements will cover the $SARCO costs associated with using Sarcophagus.
- Gas expenses will not be covered.
Allocation: 5,356,781 $SARCO (10% of remaining DAO tokens) has been budgeted for testing and using Sarcophagus.
- On the 14th of each month, a snapshot will be taken of the Curse contract on BASE:
Curse Contract - On the 15th of each month, $SARCO tokens will be distributed in an amount equal to the $SARCO spent using the dApp since the 14th of the previous month.
- The program will run until the budget is exhausted.
Any attempt to game, loop, sybil, or otherwise manipulate the system will result in blacklisting from future rewards.
To communicate our long-term goals and values, 30% of the remaining DAO tokens will be locked into a vesting schedule for 24 months using DecentDAO via SAFE on BASE.
- Total Locked Tokens: 16,070,342 $SARCO
- DAO control removed for 24 months
- The Sarcophagus DAO will use Sabiler finance dApp via SAFE on BASE to lock 16,070,342 $SARCO into a linear + cliff vesting contract with a 24-month duration.
- Cliff period: 12 months from creation date (0 tokens claimable until then).
- After the cliff period, tokens will vest linearly over the remaining 12 months.
- Vesting is non-cancelable, meaning this action cannot be undone.
To facilitate a smooth market for $SARCO token holders, 17,677,376 $SARCO (33% of remaining DAO tokens) will be allocated for liquidity incentive and market-making programs.
- Given that there is no proper incentivization dApp for user-owned liquidity on Uniswap V3 on BASE, the DAO will partner with H20 Finance to achieve liquidity goals.
- The plan includes DAO-owned liquidity and incentives for external liquidity providers via $SARCO token rewards.
The team is working on a feature for public disclosure of Sarcophagus contents via an X/Twitter bot.
- The account @Thoth_Discloser will be connected to a bot/agent that posts a permanent link to Sarcophagus contents when set to "disclose publicly".
- This feature allows important information to be publicly accessible.
- The disclosure will be a link to the payload, including credentials for public access.
- In the future, the bot will analyze the contents of the Sarcophagus and post a description as well.
Link Format:
https://app.sarcophagus.io/dashboard/<sarco_id>?action=claim&pk=0xffcdfe055623e2d931910984c8fdb713ecbc065b49c620daf52f3239f7f74ea2
When a Sarcophagus set for public disclosure is resurrected, the bot will post:
- The link to the payload.
- The BASE address that created the Sarcophagus originally.