Align The Core team

Summary

We are proposing a performance package where we would get awarded up to 8.24M AVICI by hitting various price targets, starting at $5.41 and ending at $151.75 using a 60day TWAP. If milestones are never hit, tokens would never be minted.

If passed, this proposal would also update the Avici treasury to MetaDAO’s latest changes, which allows for team-sponsored proposals with a -3% pass threshold.

Motivation

Most crypto teams take supply upfront with time-based vesting. Tokens mint on day one and vest over 2–4 years regardless of performance. The team gets paid whether or not they build anything valuable. Avici’s chosen a different path: we launched with a 0% allocation of the team, so that we could figure out a structure that aligns our interests with tokenholders. This is that structure.

This performance package is intended to let us earn up to 25% of AVICI’s supply if we can grow it into a $5B enterprise, inclusive of future dilution with a lockup date of Jan 3rd,2029. No tokens are accessible before then.

Learn more about the motivation via this previous article.

Specifics

We projected future dilution by looking at two competitors and baking in our own assumptions. Revolut raised ~$817M to reach a $5B valuation. Nubank raised ~$908M to reach a $5B valuation. Avici might require $600M in capital across multiple rounds to reach $5B with around ~15% dilution each round.

Here’s one path of how fundraising might look like:

And here’s some scenario analysis on future supply amounts:

The unlocks would be structured in various tranches, split across two phases:

• Phase 1: $100M to $1B (15% of supply, linear).

• Phase 2: $1.5B to $5B (10% of supply, equal tranches).

Phase 1: $5.41 → $43.59 (15% of supply, linear)

$100M = 18M + 0.49M AVICI. Price = 100M / (18.49) = $5.41

$1B = 18M + 4.94M AVICI. Price = 1B /22.94 = $43.59

Unlocks proportionally between $5.41 and $43.59. At $100M, 1.5% is awarded. The remaining 13.5% unlocks linearly through $1B. This phase can unlock up to ~4.94M AVICI.

Phase 2: $49.89 → $151.75 (10% of supply, equal tranches)

Milestones should cross the exact price to be unlocked. Ex - Trading at $60 per token won’t unlock $2b tranche partially, same applies for all Phase 2.

This phase can unlock up to ~3.30M AVICI.

Protections for the Team

Change of Control Protection

If at any time a forced acquisition, hostile takeover, or IP transfer is executed through DAO governance, 30% of the acquisition’s enterprise value is awarded to the team. So if a hostile acquirer pays $100M to acquire Avici and Avici has a cash balance of $10M, we would get 30% of $90M or $27M.

We believe Avici can become a category-defining fintech by building what doesn't exist yet: a global trust score, real-world lending on stablecoin rails, and finance tools built for the internet, not inherited from legacy banks. We are trading all of our upside for execution. We only get rewarded when we create value. If that opportunity is taken from us, this clause ensures the team is fairly compensated for lost future upside.

Departure Terms

Core principles under consideration:

• Earned milestone tokens are kept based on the milestones above.
• All earned tokens remain subject to the January 2029 lockup regardless of departure date
• Forfeited tokens return to the team pool
• A minimum service period may be required before any milestone tokens are retained
• Good leaver (voluntary, amicable) vs. bad leaver (cause, competition, harm) distinction with different forfeiture terms internally figured out executed between the team.

Appendix - Operational Change

This proposal would also authorize a change to adopt the 1.5M stake requirement for proposals, a 300 bps passing threshold for community driven proposals and -300bps requirement for team sponsored proposals. We would also adopt the upcoming optimistic governance upgrade.