@usualsuspect Thanks for putting the case in business terms. Your two-track sketch, fixed-term leases beside a pay-as-you-go meter that reclaims the moment the balance empties, is close to where I ended up in the opening post with the prepaid leases layered over a spot meter. @BizaRre arrived at leasing from the sovereignty angle above. The common ground across all three: the treasury keeps the asset and sells time on it.
You may not have seen it yet, but earlier this week W3F Research posted a mechanism in this family: Dynamically priced JAMKB via decaying deposits. A builder pays a refundable deposit and the protocol bonds the JAMKB on their behalf, so no user ever holds the token, which is your “JAMKB should always belong to the Treasury” by construction. The deposit decays toward a floor at a rate that moves with occupancy, the decayed part accrues to the DAO as revenue, and when space runs short a rule-bound reclaim opens a grace window on the most decayed slots and frees the ones nobody tops up. Closer to your meter than to your fixed-term lease, but the economics you want are there: recurring revenue with no permanent sale, and reclamation nobody has to decide. Worth a read, and the thread could use a business-side voice.
One detail in your posts is doing more work than its punctuation suggests. Each of your two tracks names the unit in passing: “DOT (or dotUSD)” in the leases, “DOT (or a stablecoin)” in the meter. The W3F proposal leaves the same choice open, to be set at the end. Your own conclusion is that the recurring revenue “directly strengthens” DOT’s value. That holds automatically on only one side of the parenthesis. Rent paid in DOT is the native token accruing to the treasury with every lease and every top-up. Rent paid in a stablecoin reaches DOT only through a conversion someone has to keep choosing to run, or through a stablecoin design the DAO has not picked yet. I pressed this in the W3F thread, and Jonas agreed there that denominating in DOT looks like more direct value capture; what stays open is whether a dollar-steady carrying cost for builders is worth the indirection. If the rental model is going to do for DOT what you want it to do, the parenthesis is the part to watch. The window to settle it is before the JAM upgrade proposal later this year, while all of this is still on paper.