Introducing $CLUB
0x42DF
December 23rd, 2021

Edit: $CLUB is live. Claim here: claim.seedclub.xyz

The official contract address for $CLUB is : 0xf76d80200226ac250665139b9e435617e4ba55f9

Please triple check that you are interacting with the correct $CLUB token and be weary of scammers!

What happens when you bring together mission-driven builders with a network of web3 leaders?

You get Seed Club.

Seed Club is an incubator for web3 communities.

Started as a DAO, Seed Club is a growing family of creators, mentors and operators building the future of community. It is responsible for many of the leading social initiatives you see today, and is quickly becoming a braintrust for those driving a new wave of community-focused adoption.

Since its inception less than a year ago, Seed Club has successfully completed three accelerator cohorts.

It’s been backed by leading builders and supporters in web3, and is now home to a podcast and the mCLUB DAO.

As Seed Club continues to expand its reach, it’s time for the next chapter of growth.

Seed Club is fully governed and operated by the community - all thanks to the $CLUB token.

Here’s an overview of Seed Club, and how you can get involved.

Seed Club Model

Seed Club operates in cohorts.

Cohorts are group sessions for project leaders to go through weekly workshops regarding best practices for building in web3. Cohorts feature presentations from industry leaders and offer a chance for founders to tap into resources on how to go from 0 to 1 on launching a community token.

Seed Club will host ~4 cohorts per year. Each cohort features ~15 projects, all coming together over 6-8 week periods with the sole goal of bringing tokenized communities to life.

For participating in a cohort, projects join the Seed Club ecosystem and swap their tokens with $CLUB - stored in a Community Treasury.

As the number of tokenized communities grows, it’s time for Seed Club to lead that conversation.

Introducing $CLUB

Next week, Seed Club will release its membership token - $CLUB.

The official contract address will be updated here when live.

Please triple check that you are interacting with the correct $CLUB token. There are previous versions of $CLUB and there are more than likely to be scammers eager to harvest the seeds of your labor.

The distribution of $CLUB is as follows:

More detail on how the community treasury is broken down is included in a later section.

CLUBdrop

Allocated to on-chain supporters of Seed Club.

All $CLUB from the CLUBdrop (described in detail below) is fully liquid.

Past Cohorts

Reserved for projects who participated in Seed Club Cohorts 2 & 3.

Each project that went through Cohort 2 or 3 has the right to claim 10,000 $CLUB - distributed at the time of launching a token and distributing 3% of its supply to the Seed Club Treasury.

The following 8 projects have qualified for their 10,000 $CLUB allocation at launch.

All recipients will receive $CLUB directly to their community treasury, to be utilized as each respective community sees fit.

Contributors

Composed of Team, Founding Contributors and early supporters.

All Contributors are subject to a 3 year vest with a 6 month cliff, starting simultaneously from the date of the CLUBdrop.

DAO 20

Allocated to the top 20 contributors in the DAO ecosystem as voted by $CLUB holders.

All DAO 20 tokens are liquid upon distribution following the closing of the race (detailed below).

Community Treasury

Retained by the DAO and subject to $CLUB governance.

This detailed breakdown of the community treasury reflects the current sentiment of the Seed Club team and the contributors in this working group.

It’s important to reiterate that the community will ultimately decide how the treasury is allocated; the goal of including this breakdown is to give the community a solid foundation to start with.

Early thoughts around the use of Treasury funds are as follows:

Why $CLUB?

Seed Club is a community-governed project.

The single biggest goal of $CLUB is to attract talent to work on Seed Club projects.

This means that $CLUB will be used for:

  • Onboarding
  • Contributions
  • Curation

Together, $CLUB acts as a powerful coordination mechanism to get the smartest people in the world into the same room.

Mentors

For contributors, $CLUB can be earned for value-added participation in the Seed Club ecosystem.

Whether this is directly helping a project, giving a wider talk to a cohort or acting as a scout, $CLUB tokens act as recognition and membership for those who create value within Seed Club.

Mentors will earn $CLUB, and be eligible for ongoing distributions from the community treasury.

Projects

All projects that go through Seed Club are eligible to earn $CLUB tokens.

These tokens give projects a shared sense of membership with the rest of the cohort, and encourage positive sum behavior to contribute, share and create value amongst founders.

The amount of $CLUB earned by each project will be determined through a series of variables, shared in detail in a later post.

Curation

As the demand for Seed Club grows, so does the number of applications for each cohort.

Rather than expand the size of each cohort, $CLUB will be used as a curation mechanism to vote on which project(s) will make their way into each coming round.

Using Mirror’s Token Race template, $CLUB holders will vote on the selection of future cohort members.

How $CLUB Works

Now this all sounds great - but how does it actually work?

Each cohort, a fixed amount of $CLUB is allocated across mentors and projects.

Seed Club will use a variety of web3 tools to allocate tokens across both working groups, geared at prioritizing projects which launch tokens, and mentors who add concrete value in bringing those tokens to life.

$CLUB is the coordination mechanism for key contributors to the Seed Club ecosystem.

Seed Club is actively working through the mechanics for these distributions. If you’re eager to contribute to this model, keep a close eye out for ways to get involved in the coming weeks.

$CLUBdrop

So you want to get in the mix?

Well - here is your chance.

Next week, 500,000 $CLUB (or 5% of the total supply) is being dropped to past contributors.

370,000 $CLUB is allocated as follows:

  • 185,000 $CLUB - To wallets that own two of the following tokens - $FWB, $BANK, $FF, $WRITE
  • 185,000 $CLUB - To those who have contributed to Seed Club NFT sales

Every address that qualified for the first bucket received a fixed allocation of $CLUB.

The snapshot for these contributions was taken at block height 13430405 - or October 16th, 2021.

The official contract address for $CLUB is : 0xf76d80200226ac250665139b9e435617e4ba55f9

Please triple check that you are interacting with the correct $CLUB token and be weary of scammers!

Every address that contributed to one of the following Seed Club NFT sales (here, here, and here) earned a variable allocation split pro-rata based on the total amount of ETH contributed.

100,000 $CLUB was allocated to 40 all-star project leads from past cohorts. These individuals went above and beyond within their cohorts, and continue to be leading proponents for Seed Club today.

30,000 $CLUB was allocated to 40 partners who contributed to past cohorts. These individuals were the mentors, collaborators and guiding hands who helped connect dots and provide direction for cohorts and their teams.

Details on how to claim the CLUBdrop will be shared early next week - at which point $CLUB will be used to vote on a new initiative called the DAO 20.

DAO 20 Awards

To bring new contributors into the Seed Club ecosystem, we are allocating 25,000 $CLUB (or 0.25% of the total supply) to the top 20 participants in the DAO ecosystem. This distribution is intended to recognize their contribution to the broader DAO ecosystem, and incentivize them to also bring their talents to Seed Club.

DAO 20 Awards Voting will begin January 5th at 9am PT. Voting will close at 10:30 am PT on Friday January 7th, 2022.

To be eligible to vote you must have $CLUB in your wallet at 6am PT January 5th.

Note: The DAO 20 Award Voting period has changed from what was originally communicated in order to allow more people to claim tokens and be eligible to participate in the race voting.

More details on the DAO 20 Awards can be found in the following post:

All tokens earned in the DAO 20 Awards will be liquid upon distribution.

$CLUB Distribution

Below is a look at how $CLUB will be issued over time.

Notably, $CLUB will feature 2% annual issuance after the first four years.

All future issuance must be proposed and passed through governance, and all tokens will accrue directly to the community treasury.

The annual $CLUB issuance will be mintable by the multisig every year starting in December 2024.

Issuance will be off at default.

Seed Club Ecosystem

Web3 communities are inundated with new and divergent information every day. Seed Club is a filter and guide, helping projects make sense of what is right for them in their development.

Since its first three cohorts, the Seed Club ecosystem consists of but is not limited to:

  • 30+ Projects - The output of Seed Club cohorts.
  • mCLUB - a grant-giving subDAO supporting creators on Mirror.
  • Seed Club DAO Podcast - weekly interviews with leading buildings in web3.
  • Contributor Network - a growing community of 100+ top minds in web3.

Building in and with community is the most effective and efficient path toward success.

As Seed Club continues to refine its model and templates, the surrounding ecosystem becomes the go-to place to launch a web3 community.

We’re excited to introduce $CLUB as an additional means to grow this ecosystem, and to route value into a shared Treasury to support thousands more web3 communities going forward.

What’s Next?

$CLUB will be used to curate SC04 - scheduled to start at the end of January.

We’d like to give a special thanks to the hundreds of humans who have given significant time and effort into growing Seed Club into what it is today.

You know you are you - and you are loved.

With $CLUB entering the wild, Seed Club is gearing up for it’s biggest chapter yet. Now more than ever, we’re counting on your help to keep the ship on course.

If you’re passionate about bringing more communities into web3 - Seed Club is for you.

See you next week!

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