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Our token, Deep Work (DEEP), is a governance token for the community of designers to manage the collective.
Deep Work has a governance token to manage the collective. Deep Work team members (anyone who does work for Deep Work) are allocated the token alongside payments in USDC or DAI.
IMPORTANT: DEEP tokens will NEVER HAVE MONETARY VALUE!
DEEP tokens are a way to visualize how members of the community contribute to the organization's long-term success.
More DEEP tokens mean higher voting power, giving people more sway over decisions made within the company.
However, DEEP tokens are continually minted, so if someone stops contributing, their share, and thus their voting power, will slowly decrease over time.
Though having more DEEP tokens gives a person a stronger vote, any decision can be re-discussed if any token holder vetoes it (more in the docs). At the current size of our organization, this ensures every token holder can voice their opinion and influence the decision-making process. This mechanism will likely change as we grow.
The amount of DEEP tokens awarded for a project can be decided beforehand and adjusted afterward in a retrospective. This ensures that token issuance reflects the actual contribution to the project and the organization's growth.
On the 5th of September 2022, we moved from our old token to a mintable new token. This meant the circulating supply of the token was the total amount of tokens distributed to users and the token no longer had a hard cap. See the governance proposal for more details and the following transaction for the airdrop and transition to the new token.
Deep Work (DEEP) token is intended as a governance token. The collective has a corporate structure (Deep Work Ltd) that manages client projects, team members, and token distribution. It is separate from Deep Work Studio Limited. Since externally to Deep Work the token can have financial value, receiving it might create legal and/or tax complications for participants. Participants are fully responsible for any legal and/or tax complications and waiver any responsibility for Deep Work. As such, the token is opt-in; only participants that have explicitly opted in will receive the token.