With this latest update, each team will have their own token to track ownership. We spent a lot of time talking to our community when working on this feature – we wanted to ensure it was easy to use, but also reflected the transparency of web3 and the benefits of decentralization.
With the team token, every member can see their contributions reflected in a transparent manner, and their ownership reflected on the blockchain.
The token is valued at 1 USD = 1 team token. Whenever you add funds to your team wallet, you will be issued a corresponding amount of tokens to reflect your updated ownership. You can add funds via any token (ETH, USDC etc) – mesha automatically calculates the price at the given moment to issue the correct amount of tokens.
With the tokens, you can now ‘rage quit’ a team (as devised by MolochDAO and further enhanced by Gnosis Zodiac). When you rage quit a team, your team tokens are swapped for the team treasury’s assets e.g. if you have 20% of the team tokens, you’ll get back 20% of the tokens the team wallet holds. This doesn’t apply to NFTs…yet