MundoCoin Whitepaper
MundoCoin (mc) is the utility coin of GaiaMundo, a technology platform that provides unfettered, compelling, and incentivized access to books and in-person connection through a public library’s integrated media & community content.
INTENTION
MundoCoin is an ERC-20 governance token used by the GaiaMundo platform to incentivize engagement from its key stakeholders. The four primary utilities are:
Library patron: user engagement with library services and community.
Library operator: vigorous adoption and utilization of services.
Philanthropist: donors sponsor NFT’s bespoke to the needs of a community.
GaiaMundo staff: Compensate talented staff, board members, and advisors.
DISTRIBUTION
The total supply of MundoCoin begins and ends at 1,080,000,000 tokens (1.08B mc). It is a fixed quantity without the possibility of minting or burning tokens, so the total supply will never increase or decrease.
40% of the pot (432M mc) is designated for library operators:
Half (20% of the total pot) is earmarked for onboarding customers. Each library system that adopts the GaiaMundo platform receives 1% of this pot.
The remaining half (20% of the total pot) is earmarked for library operators to spend at will (see use cases).
40% of the pot (432M mc) is designated for contributors (donors, foundations, users). Contributors receive back 10% of the amount they contributed in MundoCoin. This allocation is used in two ways:
Fundraising rounds: facilitated, and organized purchases of coins whose proceeds are granted to GaiaMundo’s operating budget.
Community development: coins are purchased to underwrite/sponsor NFTs
20% of the pot (216M mc) is designated for employees & advisors to GaiaMundo
Limits
In line with the standard practice, a portion of the tokens for contributors to the project will be initially locked. Locked tokens will be unlocked over a period of 36 months, beginning 12 months after purchase.
USE CASES
Rewards for library patron-users
Patrons are incentivized with NFTs for their participation in :
Media rental (books, movies)
Chat forums
Content contribution
Event hosting
Event attendance
Civic engagement
Community connection, or
Otherwise engaging in the expansive ecosystem.
Users may hold, spend or donate MundoCoin on the GaiaMundo platform.
Redemption of MundoCoin accesses exclusive features such as premium content, games, events, merchandise, etc.
The reward for library operators
Each library that adopts the platform receives 1% of the pot “first come, first serve.” This incentivizes (and accelerates) libraries’ adoption of GaiaMundo.
GaiaMundo and philanthropists facilitate the granting of tokens to library operators for their excellence in performance or adoption of system features, including:
Operational efficiency (e.g. cycle time between receipt & putaway)
Programming excellence (e.g. # of events, % increase in attendance)
Patron engagement (books checked out, subscribership)
See section “NFT applications” for more details..
A distinctive channel for philanthropic engagement
For every $1 donated, $0.10 is returned to the donor as “equity” In this way, philanthropies have a novel way to receive a return on their “investment.” Donations are accepted at any time, but participating via fundraising round grants privileges:
Ability to design NFT’s at the national, state, regional or local level
Exclusive features accessed in the GaiaMundo platform (e.g. hosting events)
The initial coin offering (ICO) will target grant-writing foundations and the broad community of library fans as “pre-seed.”
Donors have the option of sponsoring non-fungible tokens (NFTs) bespoke to the specific needs of a local community. See section on NFT design. NFT’s may be designed by the local library, a philanthropic organization, or GaiaMundo staff.
Incentivize GaiaMundo staff
To incentivize the recruitment of top-talent employees, board members, and advisors, GaiaMundo compensates using MundoCoin.
Employees’ allocations vest in accordance with typical equity vesting schedules.
NFT APPLICATIONS
Examples of how tokens might incentivize GaiaMundo users:
Straight-up
Users can buy tokens and gift them to any other user on the platform for any reason (content contribution)
Only one coin may be rewarded between users per day (to minimize fraud)
Time-trial
Eligible participants complete a task before a declared DateTime “finish line.”
Coins can be donated at any point up until the finish line datetime.
The max # of NFTs available equals the estimated # of eligible participants
The value of the NFT = the number of coins donated to the pot, divided by the total # of NFTs granted.
Winners of the NFT are not determined until the finish line datetime is attained. In this way, the number of NFTs awarded and their respective value is unknown until the finish line is reached.
For example:
Announced today, 5th-grade age students of Pleasantville can win NFTs by reading 30 eligible chapter books by Midnight August 1.
According to records, there are 100 eligible participants
Philanthropies donated 500mc to the pot by Midnight Aug-1 is reached.
The estimated NFT value is at least 500mc/100 participants, or 5mc/NFT, likely higher as the # of winners is likely to be less than the number of eligible participants.
10 participants have been verified to achieve the task by the finish line.
Therefore, 500mc/10 participants or 50mc/NFT is awarded to the 10 successful participants.
Sprint
Eligible participants attempt to complete a task before other participants..
The number of winners (integer) is defined by the sponsor, and directly defines the quantity of NFTs “pie” awarded.
An open auction window allows donors to contribute MundoCoins to the “pot” to be equally distributed to each “pie” piece.
The auction window is defined by the sponsor (it may end before, during, or after the “race”)
The # of winners is also defined by the sponsor (must be a finite integer).
In this way, every contribution immediately increases the expected coin per/NFT unit “economic value.”
The first n users to achieve the task’s completion earn an NFT.
Should the number of actual winners < number of NFTs, then the NFTs and their value are consolidated to the winners.
Relay Race (social)
Examples of NFT’s designed to improve community engagement:
Net upvotes in chat forums
Net upvotes in contributed content
# of attendees with a positive experience at a hosted event
Library hurdles
Examples of NFT’s designed to improve library excellence:
% increase in patron visits, book checkouts, event attendance
% increase inventory turns (checkouts / total # of assets)
% time improvement in receipt to putaway
Specific responses to patron surveys
HOW MUNDOCOIN IS USED
The GaiaMundo provides a platform channel to use MundoCoin in the following ways
Libraries
Libraries may use their collected tokens in the following ways:
Convert to fiat currency on open markets and allocated to their budget,
Allocate MundoCoin on the platform to incentivize its patrons,
Spend MundoCoin to purchase supplies on the GaiaMundo platform (e.g. books, content, supplies, furniture, facilities, etc.)
Patrons
Patrons may use their collected tokens to:
Convert to fiat currency on open markets, allocate to their personal budgets,
Donate MundoCoin to sponsor NFTs, or gift users,
Spend their coins toward the library to receive special privileges e.g. exclusive events, content, etc.:
FAQ
Does the GaiaMundo organization (not the platform) control MundoCoin? What role do they play?
GaiaMundo Inc. can directly determine the distribution of MundoCoin in three ways:
Distributions to staff, approved by the Board of Directors.
Distributions to libraries based on their adoption and performance.
Fundraising events are hosted by GaiaMundo Inc to finance their operations.
GaiaMundo may design NFTs that donors can sponsor.
What happens when GaiaMundo’s allocations run out?
If GaiaMundo’s reserves are empty, donors can alternatively purchase coins on open markets and donate them back into the GaiaMundo ecosystem.
