A request for clarity before JAM: the people who funded this deserve a straight answer

Ecosystem
25

Thanks for the sharp analysis. Linking the settlement currency directly to the execution path is exactly why we need to get this foundation right.

I completely agree with the “DOT-only” settlement model for the footprint, and I want to double down on why this setup is so powerful. Here is how I see the mechanics, the structural shift it introduces, and our immediate next steps:

1. The “Buy Before” Model & Currency Flexibility

  • Settlement vs. Quoting: The settlement currency for the footprint must be exclusively DOT. Quoting can remain entirely flexible in dotUSD, fiat, or any other currency.
  • Conversion on the User: Anyone wanting footprint can pay with their preferred asset (even fiat). However, before any footprint is allocated, that asset must be converted into DOT. All conversion fees and slippage must be borne entirely by the user.
  • Paradigm Shift: This mechanism inherently embeds the buyback concept directly into the transaction flow. Instead of a traditional post-revenue buyback, it effectively becomes a “Buy Before” mechanism.

2. Treasury Discretion & Core Mechanics

Once the DOT arrives in the Treasury, the community retains full sovereignty over its deployment, aligned with whatever JAMKB release mechanism is ultimately selected.

  • Revenue vs. Deposits: The DOT DAO will be completely free to decide to burn only the DOT that represents actual, realized revenue.
  • Handling Restitutions: It will not burn DOT that needs to remain locked for potential future return, as would be required under a decaying deposit model.

3. Immediate Action Plan & WFC Updates

  • WFC #17 Expansion: I confirm my commitment to co-sponsor the current WFC, with corrections from #20. However, I strongly suggest introducing a clarification regarding grants right now. We should explicitly formalize the exact mechanism @Max described to ensure no “free lanes” exist from day one.
  • The Follow-On Burn WFC: Regarding the revenue-burning mechanism, let’s not wait. I propose we start drafting the new follow-on WFC immediately. This ensures we are ready to submit it to the DOT DAO the moment the current proposal passes.