17 篇博文 含有标签「guide」

In case you don’t know, Juicebox is the best way to fund and operate any Web3 business, especially NFT projects. If you’d like to know why we’d recommend reading ‘WHY Juicebox for NFT projects’ if you haven’t already done so first.

For now, we’ll be going deeper into Juicebox lore and fleshing out all the weird and wonderful options, looking at how to leverage them ideally for an NFT project. By the end of it, you’ll have set up a system where:

1. Buyers of your NFT will automatically receive a quantifiable stake in your project’s treasury in the form of ERC20 tokens.
2. People can invest in your project without having to own an NFT.
3. Automate payments to your key team members and display them transparently to your community.

In this article you’ll learn:

• How to create and configure a Juicebox project suited for an NFT collection
• How to link royalty fees from your NFT sales to your shared Juicebox treasury

1. Create your project​

https://juicebox.money/create or https://sepolia.juicebox.money/create (testnet)

I’ll go from the Funding cycle section of our create flow and recommend some possible starting points for your NFT project.

1. Funding​

Funding cycles​

We highly recommend using a funding cycle. This is the time period over which distributions will be made and other Juicebox settings such as the discount rate will be applied. Common funding cycle lengths are 1 week, 2 weeks or 1 month.

Distributions​

You can specify the amount you’d like to distribute to each member of your team per funding cycle from the treasury. If you don’t raise the total amount of funds you’ve planned for your whole team, then each team member will be paid the percentage you’ve specified for them from any funds you have raised. For instance, if you planned for Mike and Bob to get 1 ETH each per week, but you only raised 1 ETH total in a certain week, then they will just get 0.5 ETH each.

If you’re opting not to go for the shared treasury approach, you can route all funds from the treasury straight to the owner, or a percentage cut to any other wallet address.

Token​

Reserved rate​

As mentioned earlier, whenever new tokens are minted as a result of someone buying an NFT or contributing for tokens straight up, this percentage of those new tokens will be reserved and the rest will go to the buyer. By default, these tokens are reserved for the project owner, but you can also allocate portions to other wallet addresses. A reserved rate of 50% will ensure the project owners maintain a majority share of the treasury and may be a good option for your project.

Discount rate​

The discount rate incentivises people to get in early on your project. It controls how the issue rate of your community ERC20 token changes over time. A higher discount rate means people who buy your NFT in the early days will receive more tokens / ETH than those who come in later. An exact figure is hard to give, but with a funding cycle length of 2 weeks, a discount rate of 10% may be a good place to start.

Redemption rate​

This redemption rate encourages token holders to hodl and stick with your project token for the long term. On a lower redemption rate, redeeming a token increases the value of each remaining token, creating an incentive to hold tokens longer than other holders. Similar to the discount rate, you’ll have to gauge how aggressively you want to pull this level, but a redemption rate between 50 and 75% is probably a good place to start.

3. Rules​

Pause payments​

You probably don’t want to check this. Check it only if you want to hold off payments for a certain period after you create your project.

Allow token minting​

You probably don’t want to check this either, it allows project owners to mint any amount of tokens to anyone on demand. Whenever you have this enabled, your project will have a warning flag on its Juicebox page warning contributors of the possibility of their tokens being diluted.

Reconfiguration​

This is important. It restricts how long before the next funding cycle reconfigurations must be submitted before they are able to take effect. For example, with a 3-day delay (a good starting point), a reconfiguration to an upcoming funding cycle must be submitted at least 3 days before it starts. It’s a great way to ensure your community against any malicious owner behavior.

2. Create a payable address​

This will create an Ethereum address that can be used to pay your project, rather than having to go through the Juicebox interface. It will be necessary in the model of the Juicebox NFT project we’re going for, since you will use this address as the destination for your royalty fees. You will be prompted to do this when you create your project, but can do it later at any time in the ‘Tools’ section of your project page pictured below.

3. Do your thang on Opensea, or wherever. Send royalty fees to the payable address. Let the magic happen​

And that’s it! Congratulations. You’ve set up a system where buyers of your NFT will have a quantifiable stake in your project with community tokens (ERC20), and have allowed people to invest in your project without having to own an NFT.

Conclusion​

We hope you’ve enjoyed digging into the details of Juicebox and how you can leverage the protocol for your NFT project. If you’re interested in having a crack at the setup described here, have a play on Sepolia. If you’ve still got some questions, come shoot us a message in our Discord or arrange an onboarding call. As always, happy Juicing!

Disclaimer: This is not financial or legal advice. As always, speak with an expert and do your own research.

Juicebox is an extremely flexible and powerful Web3 protocol made to fund and manage shared treasuries. It has been responsible for some of the biggest names in crypto community fundraising, including ConstitutionDAO, AssangeDAO and MoonDAO. Funding and operating an NFT project with Juicebox is an especially effective way to leverage the protocol, providing massive benefits to both owners and their communities. In this article we’ll cover why, and in a follow-up article, we’ll cover how.

In this article:

1. Basics of the Juicebox protocol.
2. Why Juicebox NFT projects are better.
3. What does it cost?

1. Basics of Juicebox​

Juicebox allows people and communities to crowdfund their project and give their contributors a stake as community tokens (ERC20) in return. Once funds have been raised, the protocol can be leveraged to automate payments from the treasury in a controlled, transparent and decentralized fashion.

2. Why Juicebox NFT projects are better​

Juicebox NFT projects are a win-win for both communities and owners. There are countless ways you can configure your Juicebox project for your specific goals, but here’s a general strategy we recommend for NFT projects:

Instead of sending your NFT royalty fees directly to the owner’s wallet, you can send them to a shared treasury owned by your community. Upon buying an NFT (and paying the royalty fee), the new owners of your NFT’s would automatically receive an amount of your community tokens proportional to their purchase amount. The more someone pays for an NFT, the more tokens they receive. This gives your community members a formal and quantifiable stake in the shared treasury - your project as a whole. Your community could also contribute and gain stake in your project by just buying tokens, not necessarily having to own an NFT.

For communities​

Token value​

You can use these tokens for anything you want, perhaps governance, raffles or exclusive access to future drops. But a unique feature of Juicebox is that it allows the option for these tokens to be redeemed by community members for a portion of your project’s treasury. As the pie grows over time, a contributor’s tokens will be worth more. Your community can gain on top of just the increase in value of their NFT’s.

Having a shared treasury is optional, however, and you could instead just have all royalty fees sent to the Juicebox project route straight to the creators. In this case, the token your community receives could not be redeemed for any ETH.

Your community can gain on top of just the increase in value of their NFT’s.

Trust and transparency​

Firstly, a properly configured Juicebox project makes rug-pulls impossible. You can give your community time to react before any changes to your funding and spending parameters take effect.

Additionally, your Juicebox page shows exactly how all your funds are flowing - how much and where it’s coming from, and where those funds are subsequently being spent. The only way funds can leave the treasury is by configuring and scheduling a payment, for which your community will always have time to react to.

Spending (left) and income (right) shown on a project’s Juicebox page

You may be asking, “Ok I see the benefit for my community, but what’s in it for the owner?"

For owners​

Maintain a high stake in your project using the Reserved Rate.​

If you choose the option of your token holders being able to redeem from a shared treasury, we should mention that as an owner you can control exactly how much stake you maintain of this treasury over time. The reserved rate allows you to keep a portion of all newly minted tokens. A 50% reserved rate means you will maintain a 50% ownership of treasury no matter how big your project gets.

This is mostly irrelevant if you don’t want a shared treasury and to simply route all funds into the project straight to creators.

Allow for people to contribute to your project without buying an NFT and, therefore, raise more funds.​

This model opens up a massive and mostly untapped market of people interested in investing in an NFT project without necessarily buying an NFT. Whether it be too high of a floor price, not wanting to go through the whole selection/auction/listing process, or anything else, Juicebox opens the door of your project to these people through community tokens.

Consider if the projects like the Bored Apes had followed this model - how much more funds could the creators have raised as a result of people buying some stake worth less than the purchase price of a Bored Ape?

How much more funds could the [Bored Apes] creators have raised as a result of people buying some stake worth less than the purchase price of a Bored Ape?

Automate payments to key members of your team.​

If you’re going for the shared treasury approach, Juicebox allows you to pre-program specific distribution amounts from your treasury to any ETH address, e.g. pay vitalik.eth US$1000 every week. This saves the hassle of manually transferring funds to your team from your personal or shared multisig wallet.

Otherwise, as mentioned prior, you can simply route all funds from the project to creators and their teams.

3. What does it cost?​

Up front, all Juicebox costs is gas. As of the 23th of May, it’s about US$150-200 worth of gas to launch your project, deploy your own ERC20 token and a payable ETH address for you to link your royalty fees to. Then, for any funds you end up withdrawing from your project’s treasury, you’ll pay a 2.5% fee to Juicebox. But, for this 2.5% cut of your payout distributions, you’ll receive Juicebox’s native token (JBX) in return at its current issue rate. Moreover, your fee will give you a growing stake of Juicebox’s expanding ecosystem and treasury.

Conclusion​

If this has already been enough information for one reading, feel free to tap out now. But if we’ve piqued your interest at all, you may want to read on about exactly how you’d setup your Juicebox NFT project here (https://docs.google.com/document/d/1Xqj5AyG8pZcpdtbxYfOzqwIaMNyrhQZPfVhfsUpYw1M/edit). Alternatively, come hangout in our Discord and arrange an onboarding call if you’re interested in learning more. Happy Juicing!!

Disclaimer: This is not financial or legal advice. As always, speak with an expert and do your own research.

Communities using Juicebox can leverage their reserved rate decisively when they want to make it more difficult for new members to join. Funds can still be received, but more of the newly minted tokens will be owned by the project itself. The current project members can use this to decide how they will manage their subsequent growth on a per-funding cycle basis.

When the project wishes to make membership more accessible again, members can do so by lowering the reserved rate.

There's currently a discussion happening in JuiceboxDAO deliberating if it might be wise to move its reserved rate from 35% to 50%.

The reserved rate can also be useful for other purposes, this is just one possible metaphor that can be used to guide decision making.

Becoming a contributor at JB wasn't exactly intentional.  It wasn't until a conversation with a community member that I was able to articulate and realize that getting paid was more than just a possibility. I had first learned about DAOs a few years ago but never really understood what they did or how they got things done.  How do DAOs coordinate? How do they align their philosophy?  How did they keep each other accountable?  All of these questions were very difficult for me to wrap my head around. I then stumbled upon JB after finding out about the NOUNS project and then finding SharkDao which was using Juicebox for its treasury.

What I talked about with this JB community member was the fact that I didn't say a word in Juicebox for 2 - 3 weeks.  I attended a couple of town hall meetings and listened in on some voice chats that were happening, not knowing what the agenda was or what they were going to be talking about.  I remember reading a bunch of  threads in Discord, trying to follow one or two specific issues, to see how the community tried to solve them.  What became clear was that it was important for me to not try to understand what a few people were doing, but to try and understand what the community was doing.  That was an epiphany for me.  It made me ask, "where do this community's values and my personal beliefs and ethics intersect?"

This was the moment I started to look for tasks that helped me align myself with the community philosophy.  I started to shift my mindset from a quiet observer to thinking about how I could provide value that  could help advance the protocol and in turn, the Juicebox Community.  As I was exploring, I realized that I was also learning how to navigate the community.  How to navigate the notion, the web site, the Discord and everything else that might go along with JB.

To those wanting to become Juicebox contributors: follow a couple of tasks or issues and see how those issues are being solved by the community.  Then see if those solutions line up with how you might handle those issues. That doesn't mean you have to agree.  It just means that how we talk to each other and how we interact with each other lines up with how you want to talk to people and how you want to be talked to.

If you start this way, not only will you find a way to contribute but you will see that the Juicebox community will help you contribute.  You'll see that Juicebox will view you not just as someone that has a valuable skill but someone that has a philosophy that aligns with the goals of the Juicebox community.

进入到去中心化自治组织（DAO）的世界就像打开了纳尼亚传奇世界^注1的大门一样：它令人感到激动又困惑，而且因为涉及到真金白银，它还有几分唬人。

2021年末看起来是 DAO 发展的前沿阶段，我写这篇文章的时候，大家正在描画关于 DAO 的创建和治理的各种范例和玩法。

特别是DAO堆栈 --- 运营DAO所需的一整套软件工具 --- 正在日趋成熟。这方面的一个例子就是 Juicebox，它作为一个 DAO 的金库管理协议，最近被 ConstitutionDAO 选用来进行筹款活动，尝试去购买一个美国宪法的副本，这次筹款成功募得将近 4700 万美元。

通过这篇文章，我们会对 DAO 的各种基本功能进行定义，还会介绍实现这些功能需要用到的工具。本文内容受到 Juicebox 贡献者 @nnnnicholas 的 The Fintech Blueprint Podcast 播客的启发；如果你更喜欢听语音内容，去听一下！

DAO 是做什么的？​

现阶段，DAO 与其说是一个严格意义上组织的定义，倒不如说是一种宽泛的概念。让我们来按它们目前在 Crypto 或 NFT 领域的使用形式来展开讨论。在这个领域，DAO 有两大功能：

1. 建立资产金库（各种NFT、以太币、或者其他代币）
2. 对这个金库进行治理

假设一个你喜欢的主播决定要给他们的播客成立一个 DAO。要维护播客的运营，以及把运营扩展到商品销售和线下聚会的话，他们得有资产（说白了就是钱），所以他们要找到一个建立资产金库的办法。他们可以发行一个 ERC20 标准的代币（我们把这个代币命名为 $PODC)，捐款给金库的人都将相应地获得 $PODC 代币。你作为一个听众，对这个主播充满信心并且也希望分享它的成功，所以你就购买了一些 $PODC 代币并捐献给它的金库。

作为 $PODC 代币的持有人，你还有些特权。你可以发起提案对播客的形式进行修改，也可以就播客的嘉宾人选提出议案，你还可以参与其他提案的投票。如此一来你和其他的持币人就算得上是与整个 DAO 同舟共济，或者说同播共济了，你们也将对播客的发展和成功产生意义深远的影响。DAO 在这方面也可以很创新。私密的 Discord 服务器、非公开的会议、又或者空投活动都可以只向代币持有人开放。获得成功的 DAO 还可以投票把多余的资金分发给持币人。

DAO做的不对你胃口？别怕！你手上的代币有金库资产 100% 兜底，也就是说你可以把代币卖给金库来拿回你原来的投资（扣掉 gas 费用和其他手续费）。

相比传统意义的私企，DAO 的其中一个吸引人的之处就是它的透明度。DAO 的方方面面在区块链上都是有据可查的。有心人可以监测资产的流动并对可疑的举动进行揭发。重要的是，我们不用请会计师或者律师来做这些工作！

DAO 堆栈​

要实现DAO的这两个功能，我们就需要用到一些工具。幸运的是，有些聪明人在做这些底层的工作，令 DAO 堆栈得以快速完善。接下来，我们会讨论 DAO 堆栈的4个重要工具 Juicebox、Gnosis、Snapshot 和 Argon, 以及它们怎样协同构建一个 DAO。

Juicebox​

Juicebox 协议是一个可编程金库。实用层面上，你可以把 Juicebox 看作是 Kickstarter ^注2的去中心化版本；一个在区块链上募资的途径。它实现了 DAO 的第一个功能：建立金库。技术层面上，Juicebox是一整套的智能合约，它部署在以太区块链上，用来处理发行代币和建立金库。

继续我们播客DAO的例子，播主接下来要创建一个 Juicebox 项目。他们可以设置各种不同的参数，这些参数包括筹款目标、代币发行比例、费用支出和创建人的保留代币数量等等，都会决定项目的运营情况。这个 Juicebox 项目相关的代币是 $PODC。要想给播客DAO的金库捐款的话，我得去项目在 https://juicebox.money 上的页面，然后连接 MetaMask 钱包再捐出以太币。相应地，按这个项目预先设定的兑换比例，我会得到一定数量的 $PODC 代币。

Gnosis​

谁来“拥有”这个金库呢？一个人就能够支配这个金库，但他要是卷款跑路的话，除了怕丢掉名声，什么也拦不住他。

正解：多重签名钱包，俗称“多签”。多签基本上跟一个保管资产及执行交易的合约没什么太大区别，除了一样：它规定要有超过一个钱包地址的签名确认才能执行交易。就好像一个公司里办什么事情都要几个人签名那样，多签要求达到某个数量的签名（一般的说法是 n 个多签成员里的 m 个人，比如说，3个多签成员里的2个人签名）确认才能执行某一个交易。

所以，成立播客DAO的时候，我们会用播客的几个创建人来创建一个多签钱包（比方说两个播客主播和其他做出重大贡献的人）。这个多签钱包就成了项目的拥有者。这样我们可以有几个不同的人来把控筹款项目的参数设置，来防止个别人作恶。

Gnosis 是创建和管理多签钱包的首选工具。它提供了一个简洁的多签管理界面。多签成员在 Gnosis 上连接他们的 MetaMask 钱包，就能确认或者拒绝交易。

Snapshot​

怎样用你的DAO代币来参与投票呢？ 用Snapshot.org！ Snapshot 是一款链下投票工具，用于提议和表决 DAO 的变更事项。它利用 IPFS 来储存投票信息。

提案不外是罗列出 DAO 将要作出调整内容的一个文本，这个文本通过投票的机制来让参与的人在多个选项中作出一个单一选择。任何持有 DAO 代币的人都可以按自己意愿对提案进行投票。举个例子，有人在 Snapshot 上创建了一个提案，提议播客对某人进行嘉宾采访。我持有 PODC 代币，就可以去 Snapshot.org 的提案页面上投赞成或反对票。我的投票权重跟我持有 PODC 代币的数量成正比。

提案的支持票数达到某个数值（比方说，总票数的三分之二，或者总票数的67%）的话，就会获得 DAO 表决通过。提案通过之后，多签成员就有责任去执行这个提案。

有一点很重要，为使这一流程更加有效，需要一定的信任因素。不管怎么说，多签成员对金库有完全的支配权，得他们乐意去执行 DAO 的意愿才行。多签的本质让这个风险有所降低：正因为多签钱包要求多人签署，多签成员串通作恶的可能性就在一定程度上减少了。名声也是悬在每个人头上的一把剑，所以多签成员更倾向于站在 DAO 利益最大化的角度去行事。

Aragon​

正如上面所说的，Snapshot 是在链下进行投票，但链上投票也是可行的。跟 Snapshot 不同，Aragon 是在链上进行投票的。在 Aragon 的机制下，DAO 的所有事情都不是发生在你的网络浏览器里的。正好相反，所有事情都作为区块链上的交易来执行。在某种意义上，这种机制使 DAO 更为去中心化，但却没那么灵活，交互的成本也会更高。

结语​

DAO 现在越来越流行了，但创建 DAO 并不是自古华山一条路。我们有很多 DAO 工具可供选择。Juicebox、Gnosis、Snapshot 和 Aragon 这些属于可组合的工具，他们之间可以混搭适配来创造出一个 DAO 所需要的基础设施。每个 DAO 都会作出各自不同的工具选择，这取决于哪些工具和哪个去中心化程度更适合他们的项目和发展目标。

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去推特关注作者 @Aeolian。

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注1：《纳尼亚传奇》（英语：The Chronicles of Narnia），是一套七册的奇幻小说，由已故英国作家 C·S·刘易斯 在 1950 年代所著，为英美文学经典之一。

注2：Kickstarter 是一间于 2009 年在美国纽约成立、最初基于美国人后来拓展至各国的产品募资平台，它透过该网站进行公众募资以提供人们进行创意项目的筹集资金。

在第一个筹款周期，所有项目每收到 1 ETH 都会发行 1,000,000 个代币。

第 0 级：​

Juicebox 项目可以按最简单的形式来配置筹款和退款。

举例: 我支付 5 ETH 给项目金库同时收到 5,000,000 个代币，你也支付 5 ETH 并收到 5,000,000 个代币。现在金库内有 10 ETH, 同时总共发行了 10,000,000 个代币。由于我拥有其中一半的代币，我可以赎回这些代币来获得金库的一半总额 — 换言之，我可以获得全额退款。你也可以这样做。

第 1 级：​

可以增加一个保留比率，把某个百分比的铸造代币分配给一组预设的地址。

举例：项目设定保留比率为 10% 分配给 DAO 的多签地址。我向金库支付 5 ETH 并获得 4,500,000 个代币，你也支付 5 ETH 并获得 4,500,000 个代币。现在 DAO 的多签钱包可以获得 1,000,000 个代币。由于保留比率的存在，我不再可以赎回我的代币来获得全额退款 — 我只能拿回之前支付金额的 90%。

如果保留比率设置为 100%，则新的捐款人不会获得任何代币。

第 2 级​

可以设置一个筹款周期目标，从项目金库截留部分资金，这部分资金可由任何人触发分配给一组预设的地址。

举例：项目设定筹款目标为 1 ETH。我向项目金库支付 5 ETH 并获得 5,000,000个 代币，你支付 5 ETH 并获得 5,000,000 个代币。现在项目金库有 10 ETH — 其中 1 ETH 在筹款目标内，剩余的 9 ETH 会视为溢出。我可以赎回 / 燃烧我的代币来获取属于我的份额的溢出，即 4.5 ETH。 1 ETH 的筹款目标仍会分配给项目，代币持有者无权处置。

第 3 级​

可以增加赎回联合曲线比率，减少代币持有人通过赎回代币能收回的金库份额。

举例：项目设置了 50% 的联合曲线比率。我向项目金库支付 5 ETH 并获得 5,000,000 个代币，你也支付 5 ETH 并获得 5,000,000 个代币。由于赎回联合曲线的存在，如果我选择先赎回我的代币，我将只能获得最多 2.5 ETH。剩余的金库份额由剩余的代币持有人共享，所以你如果在我之后赎回你的全部代币，就能够获得剩余的 7.5 ETH。

第 4 级​

可以增加一个折扣率，随着时间的推移，逐步降低项目收到捐款时铸造并分发代币的比率。

举例：项目设置的折扣率为 10%，筹款周期时长为 14 天。第一个筹款周期的第一天，我向金库支付 5 ETH 并获得 5,000,000 个代币。14天后，即第二个筹款周期的期间，你支付 5 ETH 就只能获得 4,500,000 个代币。

第 5 级​

值得注意的是，项目每个筹款周期都可以更改金库提留比率、筹款目标、赎回联合曲线以及折扣率。有些项目可能为了最大的灵活性而选择不设置筹款周期时长，这就意味着他们能随意地重新配置项目。因为项目方在塑造项目代币经济模型上拥有极大的权限，信任项目方真的是非常重要。

项目也可以在筹款周期内设置一个投票合约来设定一些条件，所有的再配置提案都必须受这些条件的约束。

举例： 项目设置了一个延迟 3 天的投票合约。如果项目方希望重新配置任何筹款周期属性，重新配置的交易请求必须至少在当前筹款周期结束前提前 3 天发送。如果在周期结束前 3 天内才重新配置，那么下一筹款周期将继续使用当前周期配置，而重新配置的内容将在再下一个周期才能生效。

只要符合 IFundingCycleBallot 的要求，可以编写任意的选票合约。

根据项目不同的配置选择，Juicebox 协议内项目的溢出资金可以用于各种不同的用途。

提醒一下，溢出等于项目当前在 Juicebox 金库内的资金数量减去当前周期的筹款目标，筹款目标明确了当前周期可从金库分配给预设地址的金额。项目的代币持有人可在任何时候销毁他们的代币来获得项目溢出一定比例的金额，这个比例受到同样每周期进行配置的联合曲线比率所影响。联合曲线比率为 100% 时这个比例是线性的。

以下是如何配置项目的筹款周期以利用其溢出实现不同金库方案的几点概述：

退款​

如果活动不成功，溢出可用于让全体捐款人获得退款。

以 ConstitutionDAO 为例子，这个项目第一个筹款周期的目标设置为 uni256.max ^(注1)，允许把其在 Juicebox 上累积的所有资金自由转移到预设的地址（Gnosis 多签地址）。筹款周期时长同时被设置为 0， 赋予项目方（还是这个 Gnosis 多签地址）随时触发新的重新配置周期的权限。所有捐赠的 ETH 都会给捐款人铸造相应比例数量的项目代币。

因此多签钱包可以把项目的筹款目标重新配置为 0，再把所有的募集款项注回其 Juicebox 金库内，这样会使项目内的所有资金被视为溢出，也就可由代币持有人领取。联合曲线设置为 100% 的情况下，每个代币持有人可以销毁他们的代币来获得与他们最初捐赠金额相等的 ETH。

怒退​

项目可以利用它的溢出来允许一些失去信心的代币持有人退出并带走部分金库的资金。

只有项目的溢出资金是可供销毁代币来获取的。如果项目的大部分资金保管在多签钱包（或者其他合约/资产）内，这些资金不能计入代币的赎回价值（在 Juicebox V2 会发生变化）。因此项目可以通过把流动资金注回 Juicebox、调整项目筹款目标值以及放松/收紧联合曲线比率，来调整怒退的预期所得。

如果项目使用筹款资金的速度比募集资金的速度要快，又或者项目的代币分发比例随着时间发生了变化，通过 Juicebox 内建机制进行的怒退很可能不能获得与最初捐款时相同的金额。

感谢 MolochDAO 创造了“怒退”这个说法。

现金返还​

出售产品的项目可以利用其溢出为客户提供现金返还的机会。

例如，TileDAO 目前以 0.16 ETH 的价格出售艺术品。当作品铸造出来的时候，销售收入流入 TileDAO 的金库，同时相应地向买家铸造项目代币。TileDAO 可能希望通过赋予代币用途，或许是治理的决策权重，来激励代币持有人来持有这些代币，否则这些持有人可能会赎回代币来换取部分的项目金库资金。这个赎回基本上就是给予艺术品买家的部分现金返还，返还价值取决于项目筹款周期配置的几个方面随时间推移的变化。

可实现利润​

项目可以从任意来源向其金库注入资金，让所有代币持有人可以通过销毁代币来获取这些资金。

最简单的例子是，某个项目通过 Juicebox 项目来购买一样东西，然后转头把这个东西高于买入价再卖出。销售所得的资金可以注回到 Juicebox 项目中去，代币持有人希望的话，就可以去获取这些资金。

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全部这些例子一致表明，项目可以做出相应的选择，以便随着时间的推移为其社区提供特定的金库设计。控制代表 Juicebox 项目所有权的 NFT 的地址有权来做出这些选择。代表社区来管理这个责任的不管是普通钱包地址还是合约，都应在社区认为合适的范围内受到审查和追责。

希望这些例子会澄清一件事情：项目使用 Juicebox 协议发行的代币是没有内在价值的。但是，这些代币可以被项目用于决策的用途，决策的结果可以赋予代币价值。这一切都取决于我们随时间推移一起做出的选择，以及我们用来约束这些选择的社会契约和算法合约。

注1：unit256 是无符号整数 256 位类型数字，unit256.max 即这种数字的最大值为 2²⁵⁶ - 1。