Reputation is not necessary to acquire $SERUM. Reputation is a composite score that represents your standing within the Mutant Cartel World (MCW). In order to gain a reputation you must hold one or more of the following qualifying assets:
The Serum Hideout platform is launching in a phased manner. The Reputation Claim will launch in October 2024 and the governance module for Serum DAO - contained within The Serum Hideout - will launch in the early stages of Q1 2025.
When is $SERUM launching?
The token will launch following the first seasonal points campaign with an anticipated go-live in the early stages of Q1 2025. It will coincide with the launch of the Serum DAO governance module.
How does wallet delegation work?
Serum DAO and The Serum Hideout supports wallet delegation via warm.xyz and delegate.xyz. Users accessing serum-dao.xyz can do so without having to connect vaults or wallets containing high value assets. For more information on wallet delegation please refer to the official websites: Warm - https://warm.xyz/ Delegate - https://delegate.xyz/
Because we need better decision making, faster funding, and more equity in DAOs. Because what you do should matter. To further the Mutant Cartel World, its builders, and those that expand the Bored Ape Yacht Club.
REPUTATION SCORE
SEASON TWO
TGE
EVENT
SEASON ONE
RETROACTIVE SNAPSHOT
HIDEOUT
History
In 2021, a troop of Apes took action to reverse the retreating value of the MAYC. They built a dedicated space for Apes to unite, build, and belong.
The Mutant Cartel was born. Its early mission was to enrich, expand, and productise the IP of the MAYC, and in doing so, raise the collective value of the entire Yacht Club.
Developing foundational lore, introducing character expansions as NFTs, and partnering with Faraway to deploy these into the playable world of Serum City.
Serum DAO is the strategic funding and governance vehicle to fuel the growth of the Mutant Cartel World and its expansion of the BAYC.
REPUTATION
Reputation Scoring is a proprietary design of Novel Labs that’s anchored to your Serum Passport NFT. The pass is soulbound and unique to you.
Your Serum Passport is an evolving social counter that draws from on-chain and off-chain participation, contribution, and the spread of holdings from across the MCW and MAYC.
If you're building a Faction, recognised amongst your Ranked peers, or staying the course through hostile markets - we believe legacy should matter more than currency.
Reputation functions as a governance multiplier and ensures that authentic contributors have the largest influence in the course of the DAO.
Reputation is presented as a visible score in Serum Hideout. Those with the highest reputation are the most visible across the community platform. The primary purpose of Reputation is in governance, but later functionality will be revealed.
How It Works
$SERUM is an ERC-20 Token. One $SERUM equals one vote. All governance decisions are conducted in Serum Hideout platform and rooms with new functionality will open incrementally. Your Reputation Score will be applied automatically to Votes and will be regularly updated to record off-chain and on-chain movements. Building reputation ensures the most active and communally recognised contributors will have the strongest influence in the direction of Serum DAO.
Serum Hideout is your primary well of information and proactively alerts and guides you to the relevant governance and news from the DAO. Channels for live discussion and support exist in the Mutant Cartel Discord, but discourse on specific proposals can be tracked inside Serum Hideout Platform under Serum Improvement Proposals. Inside the MCW Discord there are active Mods dedicated to supporting your questions.
$SERUM token will have a one billion total supply. It will be allocated in preliminary waves of Seasonal Points that are redeemed for $SERUM at a Token Generating Event [TGE].
Seasonal Points are anchored to snapshots of holdership and incentivised activity that accrues across them. Different Seasons have different incentives.
A live Serum Checker will allow eligible wallets to check and deconstruct their $SERUM allocation. This will arrive with the opening of Serum Hideout in Q4 2024.
Staggering the distribution allows the DAO to sustain interest and align market incentives with new products, growth opportunities, and directions.
All Backers, Advisors, KOLs and Team have enforced vesting periods and lockups to ensure safeguards against the supply.
Future Seasons will accommodate new releases to the MCW and weight $SERUM allocation towards desired mechanics within the MCW.
Seasonal Supply Calendar
RETROACTIVE POINTS
Total Token Supply
Assets Split
Serum City Split
Snapshot Period
10%
65%
35%
Nov 2024
Those that hold an MAYC or MCW asset at the time of Snapshot will receive $SERUM based on the following split:
ASSET SPLIT
Collections
Mutant Cartel Oaths
Mutant Hounds
MH/I
MAYC
Percentage
20.00%
45.00%
30.00%
5%
Assets
VIPs
Pledge
Hounds
Collars
OG Collar Mints
Fusing Materials
MH/I
MH/I Runts
MH/I Evos
MAYC
Percentage
4%
16%
29.50%
2.50%
0.50%
12.50%
28.65%
0.35%
1%
5%
Points Per Asset
79,268.29
56,583.24
25,631.60
16,298.90
325.00
45,671.73
18,808.71
22,979.8
8125
1,667.01
A dynamic formula to calculate points per asset is employed to accommodate the deflationary mechanics present in the Mutant Hounds Collections. Points are anchored to collection size and those are fluid in the Mutant Hounds Saga.
Your points allocation and redeemable $SERUM will be visible via our personalised $SERUM Checker that opens with the first Snapshot.
Those that participated in Season One of Serum City that ran from February 2024 to July 2024, will receive $SERUM based on their Serum City Points and Blessings. Season Two of Serum City will feed into the TGE. A more detailed breakdown of $SERUM farming in Serum City will be added.
SEASON ONE POINTS
Total Token Supply
Assets Split
Serum City Split
Season One Duration
5%
65%
35%
2 - 3 Months
After the December Snapshot for Retroactive Points the first Season of Points will commence. It will run for under three months and conclude with the TGE, where points will be redeemed for $SERUM. Future Seasons will follow the TGE and be aligned to the direction and course of the DAO.
TREASURY
A series of strategic moves will unlock across Q4 to stimulate the starting Treasury.
20% of $SERUM reserve
Redacted - Announced Q4
Redacted - Announced Q4
Redacted - Announced Q4
Redacted - Announced Q4
Redacted - Announced Q4
CEX & DEX Listing
Redacted - Announced Q1 2025
FUTURE CEX/DEX
20% of Token Supply
SERUM STEERING COMMITTEE
The Serum Steering Committee [SSC] are a combination of those elected by the pre-DAO community and those most active and recognised in the MCW.
A team of seven will oversee, guide, and improve direction and decision making in the DAO. Duties will include:
Chairing regular open discussions with Ranks to cultivate Serum Improvement Proposals [SIPs]
Guiding, vetting, amending, and polishing the construction of SIPs
Convening and actioning incoming Rank requests
Proactively recruiting and encouraging the growth of Ranks
Passing polished SIPs to a Vote
Aftercare incubation and support of SIPs that pass
Driving ambassadorship and growth of the DAO
Allocating the DAO marketing budget
Terms will run for nine months with elections being conducted within the Ranked Members. SSC will have visible targets in Serum Hideout to measure their collective tenure. These may include:
Ranked Members Growth
SIPs Submitted / Launched
Treasury Performance
MCW Collection Metrics
Milestones
Improvements
Elections & Appointments
Eligible candidates are drawn from the Ranked Members of the Discord and must be of a Wiseguy Rank, or above. Prospective candidates can signal their intention to run at any time, but official lanes will be signposted and coordinated via the Hideout and Ranked Channel four weeks outside of a vote.
There are six seats that are appointed by a Ranked Members vote every nine months in the Hideout. Early departures will trigger a vote for independent vacancies and cover the inherited term.
One permanent representative will be provided by Novel Labs to sit on the SSC for the duration of Novel Labs engagement with the DAO. Further details will follow as we progress to TGE.
Conflicts Of Interests
The best idea wins. Members of the SSC can raise proposals, but must abstain from voting on their own. Additional KYC and a legal requirement to communicate any conflicts of interests are necessary.
Committee meetings are minuted and decision making documented. The DAO Administrator works impartially with the DAO’s legal advisors to ensure bias is not unfairly present in the process.
If a conflict of interest is confined to a vote, then that member would be expected to abstain in the vote and its discourse and the DAO Administrator would take their vote. A conflict of interest that interferes in the ability for a member to conduct impartial duties by the DAO’s appointed legal team would require the person to step down. Further details will be released prior to governance going live.
NOVEL LABS
The creators of the Mutant Cartel World and team behind the launch of Serum DAO. Novel Labs will continue to operate as a strategic advisor and scalable service provider to the DAO.
To further empower the decision making of the DAO, the SSC will be provided with the decision to renew and amend the involvement of Novel Labs as a service provider based on the performance of their first six months.
Serum Improvement Proposal
Serum Improvement Proposals are for holders of $SERUM to make decisions on how the treasury engages on projects, partners, use of the MCW brand, and the ultimate direction of the DAO.
SIPs are raised by Ranked Members of the Mutant Cartel World in Serum Hideout, and pass through validation gates between the SSC and DAO Administrator before being passed to general Vote.
SIP CATEGORIES
Ecosystem
Include major strategic decisions affecting the entire MCW ecosystem, such as partnerships, IP usage, product launches, or policy changes.
FLASH
Designed for urgent and modest funding needs. As above, but requires backing from a Wiseguy or higher, ensuring quick and efficient allocation of resources.
FUNDING
Focus on funding specific growth projects, ideas, or innovations. These proposals should include [or at least will prioritise] a revenue share model returning to the DAO.
Faction & MHI
Specific funds to fuel Factions and MHI. Must have one month tenure in the Faction Lead Role and commit to holding the Role for the duration of the proposal. MHI Holders must have one month tenure and continue to hold the delisted MHI for one month following the proposal duration.
RANKS
The strongest heartbeat of the Cartel and the strength of its foundations are seated in its Ranked Members.
Ranks represent “Roles” awarded in the neighbouring Mutant Cartel Discord. They are a social construct to recognise contributions and a staple of the MCW since its community launch in 2021.
The Serum Steering Committee will regularly convene to decide on new entries and action mobility across our ranking ladder:
Henchman
Wiseguy
Captain
Officer
Ranks are one of the components that contribute to your Reputation Score and will be used to unlock Governance Gates on raising proposals and participating in special votes.
To safeguard the integrity, longevity, and interest of the DAO treasury, members will need to become Ranked to raise a Proposal.
This is to ensure a gradual and stable course to decentralised governance.
Demonstrable contribution to the core purpose of furthering the MCW
Approved by the SSC
CAPTAIN & WISEGUY
Previous Rank for at least one month
Hold a Novel Labs or MAYC asset
Demonstrable contribution to the core purpose of furthering the MCW
Approved by the SSC
OFFICER
Highest contribution to the MCW
Additionally, must hold a Mutant Cartel Oath
Approved by the SSC
What you do and what your peers see in you matters.
BUSINESS TERMS
Hideout Reporting
Governance Rooms: Serum Hideout will provide transparent real-time visibility into DAO activities to include financials, governance metrics, and KPIs.
Profile Page: Serum Hideout will house your Reputation Score, Serum allocation, and tailored governance feed on your Serum Profile.
Quarterly Reports: Detailed reporting and digests will be published on the dashboard, offering insights into the DAO's performance, decisions, and future plans.
Accountability
Serum Steering Committee: Members of the SSC are accountable to the DAO holders and can be voted in or out based on performance and adherence to the guideline charter.
DAO Administrator: Is accountable to the legal entities servicing the DAO, ensuring compliance and proper governance.
Initial Conflict Resolution
The Serum Steering Committee serves as the first point of contact for conflict resolution, addressing disputes and ensuring fair decision-making processes.
This progresses to the DAO administrator if legal, compliance, accounting, or regulatory questions are involved.
Community moderators and technical support are provided by Novel Labs as service providers and can be reached directly through the Discord, or raised in a support ticket.
Democratic Process
The Serum Steering Committee is democratically elected, allowing the community to vote members in and out based on their conflict resolution performance and overall contribution to the DAO.
This will be for a term of nine months unless there are grounds for gross misconduct or failing.
Legal and Compliance
Legal Structure Serum DAO is supported by offshore entities to navigate and comply with varying legal and regulatory environments. Cavenwell provides oversight to ensure all proposals align with legal requirements. The group structure and platform TGE will be shared here ahead of the Hideout opening.
