The Solar Family Tokenomics – DAO Solar Family

The financial model of Solar Family project is based on two digital tokens: SOF and SOR. The SOF token is an ERC-20 standard token that mainly acts as a financial asset representing the Solar Family project valuation. Apart from that, the SOF token allows its owners to become part of the Solar Family community and take an active role in the development of the DAO. The SOR token is a utility token with a more impactful set of options, which allow its owners to vote on the primary issues in the development of Solar Family DAO and be financially rewarded for beneficial participation in the project.

The SOF token endows its owners with the following capabilities:

1. Participation in the wide consensus (vote)
2. The usage of SOF as collateral for the issuance of SOR
3. Using SOF as an instrument for obtaining a stake in the Solar Family.

The SOF token can be traded freely on cryptocurrency exchanges (centralised and decentralised), and people can use it as a currency in financial operations via p2p transactions recorded into a distributed blockchain-based ledger.

The SOR token is a reputation token that allows its owners to partake in the DAO’s narrow consensus. The SOR token is non-transferrable and can only be produced through a lock-up of SOF tokens, being stored at one address only. The amount of the issued SOR tokens will be equal to the amount of second root of the locked-up SOF tokens multiplied by the time factor (freezing time).

The SOR token carries the following set of prime features:

1. Voting on all primary issues regarding the functioning of the DAO, including investments decisions
2. Managing the assets of the DAO and its asset storage account
3. Voting on the issuance of new SOR tokens
4. Financial reward for successful work with SOF tokens.

The total issuance of SOF token is 200,000,000 tokens. During the IEO, 35% (70 million) of the total SOF issuance will be used. All SOF tokens which are not sold during the IEO, if any, will be burnt to raise the individual price of every SOF token remaining. The price of SOF during the IEO will be 0.007 USD. The softcap set by our team is 200,000 USD, the hardcap is 490,000 USD.

The funds received through the IEO will be used to create the initial budget of the DAO and initialise the software development and marketing campaign. Our primary development goals include the creation of the system interface and the launch of the smart contract that will help achieve transparency inside the Solar Family DAO.