True Freeze is designed as a public good. It is immutable upon launch and has no governance nor admin emergency powers. It was developed by Deep Freeze LLC to function for centuries. It has been audited successfully, but otherwise will be provided as-is to the community for as long as the blockchain(s) it lives on functions.
To support development and initial launch, Deep Freeze LLC will retain 18% of the initial supply of FRZ. This percentage (by design) will rapidly erode as FRZ inflates and forces the insiders (devs 12% & angels 6%) to use the primitive too. We won't be able to sit back and profit without participating for long (by design).
Generally with public good products like this, a DAO is formed to steward the protocol, fund liquidity incentives, make decisions on add-on features, etc. We find this unnecessarily centralizing. Yes, many people participate in DAOs, but we feel it is not truly a public good unless multiple DAOs and groups are able to contribute to the advancement of the good. For example, it would be too centralizing for a single DAO to manage a single front-end website or control which protocols are allowed to integrate True Freeze into their yield farms.
For this reason, we are seeking to allocate a larger 20% of the initial supply of FRZ to DAOs, Protocols, and communities who can steward the protocol as part of their ongoing work in building web3. This allocation will function as a grant, there will be no governance or admin oversight on this FRZ. Any groups accepting the grant and failing to support the public good will see their percentage of the network rapidly fall (again, by design) unless they actively use True Freeze.
The largest percentage of the initial FRZ supply (42%) will go to the community of users via an airdrop with emphasis on builders and active participants in the DeFi community.
While the economic theory supports a free market approach to pricing frETH and FRZ, the practical reality is that people will earn FRZ in the airdrop and not want it, and people will mint frETH but not want to burn it. As such, it is critical that the True Freeze ecosystem be modular and easy to enter and exit at different points. So 20% of the FRZ initial supply will go to a liquidity incentives program not managed by Deep Freeze LLC. Decentralized Exchange partners are being identified to run liquidity incentives autonomously.
The hope is that by spreading the FRZ revenue token ownership widely, multiple different groups will form that have different ideas on how to build on top of or integrate True Freeze into other protocols. Individuals who see the century+ vision of True Freeze can self-organize (or join partner DAOs) to volunteer their FRZ to initiatives they want to see (e.g., automated strategies).
DAOs, Protocols, and Builder communities interested in support the True Freeze public good Ecosystem can reach out to Deep Freeze LLC on Twitter prior to launch. The availability of partners is critical for determining which blockchains to launch True Freeze.