Dissolve Investment Committee (tropofarmer and Gfunk)

Status: Draft

Proposal Author: n00bleLAND

Created: 7 January 2021

Discussions-to: Comment below please

Implementation: Immediate. ‌

Buzzed Summary

Dissolve the NFT Investment Committee and reallocate the remaining eth to other initiatives.

Abstract ‌

There have been three different proposals in the forum to dissolve the Investment Committee with different solutions regarding what to do with the remaining NFTs and funds. This is to confirm the dissolution of the Committee and to coalesce the different ideas to make a final decision.

Specification ‌ Overview ‌

It has been a few months since we passed BIP-003 with an original intention to simplify the honeypot allocations in an investment strategy, allowing:

  • 30% Metaverse Committee
  • 20% Investment Committee
  • 10% Community NFT Fund
  • 20% Defi
  • 20% Spending Reserve

Currently there is approximately 15.5 eth remaining in the Investment Committee Wallet as well as 8 NFTs (Zapper: 0x3b76...c0b4 - Zapper.fi)

Below is the current Honeypot allocations for each committee:

The three previous proposals are listed below:

Should we disband the Investment Committee:

  • Yes
  • No

0 voters

What should we do with the NFTs that are currently in the Investment Committee wallet?

The options regarding the current NFT holdings in the Investment Committee wallet include but are not limited to the follow:

  • Hodl the NFTs and put them under the jurisdiction of the NFT Flipping Committee
  • Keep NFTs in current wallet and categorize them as “Long Term Hodls”
  • Liquidate and start anew

0 voters

What should we do with the funds that are currently in the Investment Committee wallet?

There is currently approximately 15.5 eth remaining in the IC wallet. The options for reallocation include, but are not limited to the following:

  • Send to NFT Flipping Committee
  • Send to Metaverse Committee
  • Send to Marketing Committee
  • Send to DeFi allocation
  • Split between multiple committees (please specify in comments)

0 voters

Rationale ‌

The reasons for this proposal are:

  1. Continued questioning of Investment COmmittee’s effectiveness
  2. Adjust previous strategy that is not creating expected output

Technical Specification ‌

  1. Confirm vote to dissolve Investment Committee via Snapshot vote.
  2. Use governance forum to re-allocate remaining funds

Test Cases ‌

Bears have made good purchases for MVI and also MANA, with 2-3x increase in Eth balances over the past 1-2 months. This shows the potential for buzzed bears to increase honeypot Eth funds through a small risk exposure investment in other crypto than Eth.

Copyright ‌

Copyright and related rights waived via CC0.

thanks for putting this together n00ble. and imo the IC funds should be split between marketing/metaverse/nft-flipping committee.

2 Likes

I vote to split the funds between the NFT Flipping Committee and the Metaverse Committee (maybe to use for building costs?).

I would be fine with this as well.

Legend thank you!!! I did select DeFi but I am happy to equally split them between nft metaverse DeFi spending whatever really so long as we move them to something useful in good. I think we have potential to make good gains in this next bull leg if we get some metaverse tokens but equally some more DeFi. Like I would top up GMI but I really also like DATA analytical another product indexcoop has that is data based which I feel will be a future focus for crypto

Actually in second thoughts we could use sole of the funds to create a voxel character for bears. So splitting some to metaverse spending would be great

I think the fairest way to do it is to hodl the NFTs and decide what to do with them as a community then split the remaining funds evenly. I would propose we split what in there (a little over 15 eth liquid) three ways between the degens, metaverse, and an official allocation towards marketing

There are currently some solid small cap crypto projects going for massive sales with the BTC pull back (some down 80%+). Some of these projects such as XTM & DREAMS are operating in the metaverse and have 20X potential. XHV is a privacy stable coin which has potential 100X returns. These are obviously all high risk plays but on a risk to reward basis I think it’s a no brainier to Chuck 1 ETH on to each of these projects (or a small selection of other small cap crypto projects if anyone else has done their research and has some good finds). If they blow up which they could these investments will give massive returns for out community. And if they flop it’s a relatively low investment. But as long as BTC finds its floor at 40k or 28k and bounces I believe they are massive gains to be made in these small caps.

2 Likes

I think we should split evenly between metaverse, defi and marketing.

1 Like

I just tabulated what people voted for and this is the breakdown. How do we feel about splitting the remaining ETH as follows:

2 Likes

sounds reasonable to me, awesome work @n00bleLAND and bears!

Thank you very much @n00bleLAND for your work!