Funding proposal THX DAO -> THX Network BV: Q1 2024


THX Network BV is requesting funding from the THX DAO, effective as of 1st of January, for the first quarter of 2024 to support further growth of the protocol. The proposal is for the DAO to acquire funds by removing them from the liquidity pools that become obsolete by the voted escrow tokenomics update. The estimated available funding using this method is approximately €29.200.


Over the past year, using capital raised from Techstars, business angels and THX DAO. THX Network BV has made significant strides in not only developing a robust and user-friendly protocol but also bringing it to market. THX Network BV has successfully pivoted its go-to-market strategy to the gaming sector and today we’re continuously working on improving our platform to meet the evolving needs of our users and partners.

The progress has been shared in recurring newsletters with a focus on active domains and monthly active users. Currently our ecosystem has over 25 active domains and is approaching a thousand active monthly users (MAU). For more information subscribe to the newsletter updates using the form on our website.

Now that early product market fit has been found, the focus of the first quarter of 2024 is on strengthening the proposition not only for end-users such as games and game studio’s but also for gamers and other stakeholders such as token holders. There are three main areas of focus:

  • Tokenomics: by updating to a voted escrow model with the launch of veTHX, we align incentives between long-term holders and users of the protocol. This will play a significant role in the protocol’s future business model and governance. For this update we are working with the 8020 Launchpad Initiative executed by Protofire and funded by Balancer Grants. An early preview of the staking interface is available for feedback.
  • Go-to-Market: by offering a THX tokens claim, a marketing tactic similar to an airdrop, to selected gaming companies and organizations and their followers we’re accelerating our reach to potential customers and end-users.
  • Legal: by ensuring our compliance with the Markets in Crypto-Assets (MiCA) regulation, including updating the utility and legal status of our tokens, we make sure our protocol can continue operations in a responsible way. THX Network BV will be working on this update together with De Roos Advocaten headquartered in Amsterdam, The Netherlands.

This proposal seeks to provide partial funding to support the development, management, and sales/marketing of the protocol, enabling the protocol to grow in usage which ultimately benefits the DAO and its members. In order to not strain the DAOs resources, the funding request is kept to a minimal level by primarily utilizing funds from liquidity pools that will become obsolete under the veTHX tokenomics model.

Similar to earlier this year, the sustained support gives a strong signal to future partners and investors that both the THX Network protocol and company are well-positioned to achieve their strategic goals in 2024 and beyond. Next to this funding THX Network BV will continue to raise capital from other sources.

We look forward to your feedback and approval of the proposed budget. Thank you for your consideration.


The proposal involves removing funds from liquidity pools, which will lower liquidity for the $THX token. However, this risk is mitigated by primarily using the pool on Balancer that will become obsolete with the transition to the voted escrow token model which relies on 80/20 Balancer pool. For now, the Uniswap pools remain intact. Providing arbitrage opportunities and also increasing the accessibility of the THX token.


The proposal involves acquiring funds by removing them from the liquidity pools, with an estimated available funding of $31,027 or approximately €29.200.

The breakdown of funds to be removed is as follows:

The monthly budget will be allocated to development (€5,120), sales and community management (€3,000), marketing + ads and/or PR (€1,750) plus a one-time legal budget (€2000). Running for three months, this totals to €30,860.

Next steps:

First, this proposal will be open for discussion for a minimum of three days. Next, it can be signaled to move to a vote. It then is subject to validation by the Governance Council and when approved will proceed to be posted on for voting. This process is described in the Proposal Workflow.

The responsibility for approving this proposal falls on the THX DAO and will be voted upon by token holders. Upon approval the executing is up to the multisig holders. All on-chain transactions are routine operations performed from the Gnosis safe using either the Balancer app, or the GAMMA smart contracts and interface using Walletconnect.


I’m very excited about the updated tokenomics model and go to market strategy. What are the expected timelines to roll out the new tokenomics model?


What are the expected timelines to roll out the new tokenomics model?

Pretty fast! It mostly depends on external legal review and our work with on the 8020 launchpad. To be safe I will say January 2024, perhaps earlier if we make good progress the next couple of weeks :slight_smile:



Great to see you making strides with solidifying the tokenomics! Looking forward to see the next steps toward an autonomous organization become a reality!

Internal team feedback; we noticed that no legal budget is included in the original proposal. We now have an estimate and quote of the work that needs to be done and propose to add $2250 (not the quoted amount, but a substantial part) to the budget. This has been edited in the proposal above.

Due to the rise in token prices since the November breakdown of funds, this has no impact on the removal %. A final balance on the 1st of December has been updated in the proposal above.

@governance-council the proposal has gathered both feedback and early support. Requesting this proposal to move towards vote on .

Let’s formalize the approval vote below.

  • YES, valid proposal criteria met
  • NO, valid proposal criteria not met
0 voters

Ps. proposal workflow available here Proposal Process & Template - Road to DAO - THX Network - Google Docs

@governance-council thank you everyone for reviewing and voting!

With 5 ‘yes, criteria met’ votes out of a possible 7 votes the proposal got an easy majority. It will be moving towards a snapshot vote later this week! :ballot_box::clap:

An update on the timing of the next vote. Long story short; we decided to wait for deploying staking and the new governance token staked $THX, called veTHX (ve standing for ‘vote escrow’).

Why? Voting for people providing liquidity is complicated. There is no up to date Balancer vote strategy supporting that. It would require us to do one-off work, which is not an effective use of resources.

The alternative and full timeline now looks as follows;



More details here; Stacking Feedback Part 2 - Product - Governance Forum THX Network

cc @governance-council @early-gov

Great news! Staking and therefor the new governance token veTHX has been shipped!
See this guide for how-to stake to gain voting power: $veTHX and staking - THX Network

We will allow for three days of locking of $THX tokens to create $veTHX. The Funding Proposal vote will go live on snapshot Friday morning CET.

cc @governance-council @early-gov

1 Like

Vote passed :white_check_mark:

THX Community Proposal: Funding proposal THX Community → THX Network BV: Q1 2024 (

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