|1.) Renaming of the term “tax” - the term “tax” (the 4% collected) that goes to the Social Lending Pool (SLP) is not the proper term for what it is. The term “tax” has a lot of negative connections behind it, and we should move away from it. In reality, the 4% “tax” benefits the holders that will eventually be realized with the staking mechanism. The DAO owns the SLP, and the community is the DAO. If you are a token holder, you are a share owner of the DAO and the SLP. How do we come up with a term that better describes this and move our language away from the term “tax”
a.| Let’s brainstorm together. Leave any ideas in the comments below for a new name. Once we have a good list in the comments, the top ones with the most likes will go to a vote to change it.
Maybe we align with Credit Union terminology around this. Not sure on them but maybe Becky Reed can help us out. Maybe something like “member fee” or “member share fee”
I agree, we could find some better name. Although a tax is typically a contribution to the common funds of a country/state, it is typically coercively paid by contituencies, and misappropriated and abused by our representatives, all which is the opposite we try to build here.
Examples: QUOTA, FEE, TRIBUTE, INPUT, CONTRIBUTION, CANON, TITHE
Hmmm. Maybe “DAO membership fee” I like the term “membership” in there because it shows you become a member with that it and get benefits. With just “DAO fee” I feel like people might be like that goes to just the DAO.
I like the term royalty. Lending Pool Royalty or DAO Royalty sound good. The term royalty also associates it with NFT royalties which are often around 10%