[Discuss] Proposal 157: Validator v1.0.0: Artist coins and Open Audio Protocol tokenomics

General
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Proposal 157 Voting Link

Validator version 1.0.0 adds support for Artist Coin tokenomics and the new minimum version requirement for validators.

Proposal 156 calls for the registration of the validator node type. This second proposal sets the validator version to 1.0.0 and with community vote, formalizes a new tokenomic structure to support Artist Coins and their future advancement.

Artist coins, launched on Solana, utilizing the Meteora Dynamic Bonding Curve, are recognized by the protocol through

  1. Automatic pairing against $AUDIO as a quote token
  2. 50% of trading fees used to remove $AUDIO from circulation.

Meteora bonding curve config address for artist coins: aDBCdATdhH3381hLjHPUjcg3DqdQ5cE5ke9fZDV9zbw

Bridge contract that receives fee: stkB5DZziVJT1C1VmzvDdRtdWxfs5nwcHViiaNBDK31

Open Audio partner address (Squads): BrFsJh3HoDTapRXcDERcQV9m89QrDWP7v4919rocSXpx

Signers on the partner address multisig are managed by Open Audio Foundation.

Fee claiming for the protocol fee share is to be performed on a regular interval by the Open Audio Foundation, as such:

  1. The partner address, controlled by the Open Audio Foundation, submits claimPartnerTradingFee2 calls to the Meteora DBC program for each artist coin where it is set as the partner address.
  2. The receiver of the claimPartnerTradingFee2 call is set to the stkB5DZziVJT1C1VmzvDdRtdWxfs5nwcHViiaNBDK31 bridge address, which is swept on a regular interval and delivered to the community address 0x4DEcA517D6817B6510798b7328F2314d3003AbAC

1.0.0 of the Open Audio Protocol also formalizes the usage of the Reward Manager Solana program DDZDcYdQFEMwcu2Mwo75yGFjJ1mUQyyXLWzhZLEVFcei for the distribution of Artist Coin rewards, airdrops, and other mechanisms as artists see fit. The Reward Manager program’s implementation can be found on github.

Though this proposal formalizes the version for validator onchain, the anticipated timeline for its full rollout is:

  • Oct 2025: Opt-in phase
  • Nov 2025: Opt-out phase
  • Dec 2025: De-registration of discovery-node, protocol requirements of content-node to match validator node

Discussion: gov.audius.org