Initiative Goal: This initiative is aimed at growing Openmesh's community and making it a thought leader in the DePIN (Decentralized Physical Infrastructure) space. It uses the Openmesh Nominatively Identified Asset sOPEN for the exact purpose and application described in the bylaws, to be made obtainable through vesting based on Xnode Unit NFT ownership. This proposal supports the "Proof of Talk" conference in Paris by distributing Xnode Units to early adopters.

Statement on Compatibility with the DAO's Bylaws: This proposal aligns with the DAO's bylaws by delegating specific authority to mint sOPEN tokens for the Xnode Unit initiative, ensuring efficient token distribution, transparency, and accountability.

Definition of Xnode Unit:

What is an Xnode Unit:

Xnode Unit is an ERC721 collection. Ownership of a token grants permission to access a specific cloud machine. These tokens can be transferred or sold, with only the current owner having access to the associated cloud machine. The cloud machines are available for up to 12 months after activation.

How to Use Xnode Unit:

Acquire an Xnode Unit ERC721 Token:

Obtain a token to access the cloud machine.

Deploy Your Cloud Machine Using Xnode Studio:

If the token is obtained from a previous owner, reset the machine to prevent malicious modifications.

Select the Template for the Machine:

Install the included services with the provided configuration.

Start Using the Machine:

After setup, use the chosen services or install additional programs.

Distribution Plan:

Xnode Unit Promo Code Distribution:

The first Xnode Unit promo codes will be distributed during the Proof of Talk conference in Paris.

Future promo code distributions do not require DAO approval, as long as the total possible number of Xnode Units does not exceed 250.

Xnode Unit Entitlement Claiming:

Users can claim on-chain entitlements to their Xnode Unit in Xnode Studio using a promo code they received through distribution.

Xnode Unit Activation:

They can activate their entitlement at any time, starting their cloud machine period and turning their Xnode Unit Entitlement into an Xnode Unit.

sOPEN Distribution:

Each Xnode Unit owner can claim 200 sOPEN during its 12-month lifetime (approximately 16.7 sOPEN per month).

In case of a change of ownership, all unclaimed rewards will be claimable by the new owner.

The vesting will start on the 10th of June 2024 at 00:00 UTC and end on the 10th of June 2025 at 00:00 UTC.

Vesting rewards can be claimed in Xnode Studio and are not dependent on when or how the Xnode Unit was acquired.

Future Xnode Units: When more than 250 Xnode Unit tokens are (planned to be) distributed, a new proposal should be made to grant the vesting contract sOPEN. Otherwise, not all Xnode Unit owners will be able to claim the full vesting reward until the sOPEN balance of the contract is increased.

Minting Request:

Total sOPEN to Mint: 50000 sOPEN

This amount will support the distribution and rewards for 250 Xnode Units, ensuring each unit receives 200 sOPEN over its lifetime.

These tokens will come from the ecosystem development pool, which constitutes about 20% of the total pool.

Actions (Off-chain):

50000 sOPEN tokens to be minted to the vesting distribution contract at 0x3E3B53A5a38e843ec54f2813A530418e8EBF8e1d, which will make equal amounts of these tokens available to the 250 Xnode Unit owners linearly distributed over 1 year.