FEFE

A token of appreciation!

The Humble FEFE

45 million of these crypto tokens have been freshly minted, and you can still smell the hot FEFE aroma!

FEFE is our community currency, which is what you will need to get involved and vote on proposals with. It can be earned, bought, sold and exchanged like any other cryptocurrency. It is mostly earned by the people who are contributing to the DAO and its projects, and is a badge of honor for those who hold it and know what earning it meant.

FEFE’s are given as a reward to people who participate in the DAO by getting their proposals accepted. They are also issued to people in the larger conservative community who have made recognizable contributions over the years in an attempt to get more people involved with the DAO.

Heck, sometimes we just give them away all willy nilly like because we're good people. Who knows though, they might even be worth something some day!

FEFE tokens operate on the xDai network, a sidechain of the Ethereum (ETH) mainnet. This has some implications that are covered in the xDai guide, but the main advantages are that it's much faster and transactions are effectively free. Other than that, it's just like any other ERC20 crypto token.

The initial distribution of tokens is as follows: 70% to the community funding pool (vault), 15% reserved for liquidity and foundational type admin work (reserve) and 15% to the founding team (team).

The Vault

All community funds are held in a vault that is solely controlled through voting. The only way to get funds out is through a vote by the community, with safeguards in place to protect against attacks. We’ll also be drafting our own version of a constitution here that protects us from bad faith proposals.

In addition to the glorious FEFE tokens, the vault can hold other less prestigious cryptocurrencies as well. Any non-FEFE tokens that end up in the vault can not be spent without going to a vote, and can be given as rewards just like the rare, original pressing FEFE's.