₡ABIN is our governance token, representing your voting power in community decisions. Anyone with 1000 ₡ can submit a governance proposal to the DAO. Proposals are voted on using quadratic multi-choice voting to increase equity among tokenholders. Tokenholders govern the DAO’s public treasury to grow its network of:
- Citizens: people who spend time coliving and connecting at Cabin
- Neighborhoods: independently owned and operated properties in the network
- Fellowships: service provider pods that work on improving Cabin for the benefit of its Citizens
From a technical perspective, ₡ABIN is an ERC-20 which is the implemented standard for fungible tokens created using the Ethereum blockchain. This means that if you hold ₡ABIN in your own non-custodial wallet, you are the only one who can make a decision about what happens to it.
Cabin does not presently own land - your ₡ABIN does not reflect ownership in any of the physical properties in the network.
Holding ₡ABIN is not a promise of a future sale of a security.
Cabin is a hybrid online-offline community dedicating to creating a network city for nature-loving remote workers.
₡ABIN is our governance token that powers decision-making within that community.
₡ABIN currently has three core functions:
- Deciding how we spend funds from the DAO treasury and what projects we fund
- Rewarding community contributors and onboarding new members to participate in governance with us
- Curating which properties in the City Directory are considered neighborhoods.
You should keep your ₡ABIN in a non-custodial wallet. A wallet is a place where you can store crypto assets. It allows you to hold cryptocurrencies like ETH, DAO tokens like, and also other assets like NFTs. Metamask and Rainbow are examples of non-custodial wallets that anyone can use.
You can use a non-custodial wallet like Metamask or Rainbow. A tutorial of how to add one of these wallets to your browser is here - it will take you about two minutes to set up.
Not at this time. The community could always choose to open a liquidity pool so that members could buy and sell ₡ABIN, but that would require a majority community vote.
The reason we think this is the right decision is because we don’t want any random stranger from the internet to buy ₡ABIN without genuine understanding of the vision. Folks who hold ₡ABIN should be aligned to further a mission of building a distributed city and developing neighborhoods that better enable us to create, conserve, and colive.
There are three ways to get ₡ABIN
Citizenship: Our first 5,040 Citizens are sent 25 ₡ABIN to their wallet.
Neighborhood referrals: Folks can also earn ₡ABIN by referring neighborhoods and outposts to join the City Directory. If you know of a spot that would make for great coliving, fill out this form.
Gifts: Other Cabin members may gift ₡ABIN as thanks for exceptional contributions to the Cabin community.