The Meta Colony and CLNY

The Meta Colony is “the Colony colony” — its remit is to develop, support, and grow the Colony Network.

Every colony on the public network needs the Meta Colony, and everyone may become a member.

The Meta Colony has special permissions, including the ability to add, remove, or modify the skill tags used by all colonies on the Colony Network.

CLNY

CLNY is the Token of “The Meta Colony”.

Just like in a "normal" colony, accounts holding both CLNY and Reputation in the Meta Colony may claim a share of the revenue of the Meta Colony proportional to combined Reputation and CLNY holdings.

CNLY is required as a stake to participate in Reputation Mining. Miners earn a reward in CLNY, as well as reputation within the Meta Colony tagged with a special 'mining' skill.

Revenue and Rewards

The Meta Colony, as custodian of the Colony Network, collects a small fee every time a user claims a payout from a task. If the task payout is in a token other than whitelisted ones such as Ether or Dai, the token is sent to an auction contract, and the proceeds are sent to the Meta Colony.

This idea of a fee is a little unusual for such a decentralized system. One of the appeals of Ethereum is that other than gas costs, platforms do not generally seek rent and are free to use. However, the Network Fee is vital in ensuring the game theoretic security of the Colony Network’s reputation mining and governance processes by providing underlying value to the CLNY held by Meta Colony members.

Importantly, this fee is not payable to any centrally controlled entity, but rather to the Meta Colony. Anybody may contribute to the Meta Colony and claim a share of these fees proportional to their contribution. We believe that the benefit of being part of a secure, well supported network will ultimately be appealing enough that a small fee to pay for its existence will be acceptable.