Proposal
This proposal is to mint 7,040,870 KAB to Decent Partners verified address with the purpose of giving the UK company ~10% of the current 70,408,700 supply and a post-mint share of 9.255% in an expanded supply of 77,449,570.
Any future mints of KAB will continue with a 10% minting fee being sent to Decent Partners.
Rationale
This proposal aligns to ongoing work to create a legal and technical structure that links existing Kabocha tokens to equity or equity-like rights in Decent Partners Ltd potentially with programmable features, while ensuring compliance with existing and emerging regulations.
The primary aim is to iterate towards a model where tokens are bearer assets - representing legally enforceable rights/obligations in the Decent Partners network public company.
Voting
Token holders can aye/nay/abstain on this mint in Kabocha ref 11 by voting with their KAB here.
Network ownership cap
The design caps Decent Partner’s share in the network at 10% irrespective of the number of future mints.
Decent Partners currently holds 128,583.8325 KAB equal to 0.1826% of the network’s outstanding supply.
| Step | Cumulative Mint After First | Total Supply | DP Holdings | DP % Share |
|---|---|---|---|---|
| 0 | 0 | 77,449,570 | 7,169,453.8325 | 9.255% |
| 1 | 10,000,000 | 87,449,570 | 8,169,453.8325 | 9.341% |
| 2 | 20,000,000 | 97,449,570 | 9,169,453.8325 | 9.412% |
| 3 | 50,000,000 | 127,449,570 | 12,169,453.8325 | 9.548% |
| 4 | 100,000,000 | 177,449,570 | 17,169,453.8325 | 9.676% |
| 5 | 200,000,000 | 277,449,570 | 27,169,453.8325 | 9.790% |
| 6 | 500,000,000 | 577,449,570 | 57,169,453.8325 | 9.901% |
| 7 | 1,000,000,000 | 1,077,449,570 | 107,169,453.8325 | 9.946% |
| 8 | 2,000,000,000 | 2,077,449,570 | 207,169,453.8325 | 9.972% |
| 9 | 10,000,000,000 | 10,077,449,570 | 1,007,169,453.8325 | 9.995% |
| ∞ | ∞ | ∞ | ∞ | 10.00% |
Background
Kabocha’s blockchain network has been developed to date without any external fundraising by a globally distributed network of contributors through a multi-year process coordinated by Decent Partners.
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The Kabocha supply is fully diluted with no outstanding or vesting tokens.
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Tokens can be used within the network’s internal logic to execute a range of actions.
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Tokens have never been listed on a centralised or decentralised exchange.
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The tokens confer no associated rights or obligations.
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Tokens are transferable.