Moon DAO Token Acquisition

1

Title: Moon DAO Token(s) Acquisition

Author(s): Rolldawg

Type: Financial

Implementer: Multi-sig Team, Moon DAO Trading Team (0xRichard, Daniel G, zeekay?)

Created Date: Feb 11, 2023

SUMMARY

The Founder’s DAO has a significant number of Planet DAO tokens, but zero Moon DAO tokens. This proposal will allow the Multi-sig members of the Founder’s DAO to engage with the multi-sig FoundersDAO wallet (Wallet: 0x580A96BC816C2324Bdff5eb2a7E159AE7ee63022) to transfer ETH, as determined in this proposal, to a trading wallet managed by Daniel G, 0xRichard, and Zeekay (Trading Team) to acquire Moon DAO Token(s).

ABSTRACT

What: Founders DAO will acquire Moon DAO Token(s) as specified in this proposal.

Why: The Founder’s DAO does not own any Moon DAO tokens. Acquiring tokens via this proposal will allow the FD to have significant voting power within the UPDAO for all proposals, securing significant influence in the matters of the UPDAO. There may be additional benefits not yet disclosed for planet sets. The lowest planet total the FD holds is Pluto at 48, so the maximum number of sets the FD could complete with its current holding is 48 planet sets.

How: ETH will be transferred to a Trading Wallet controlled by the Trading Team. The Trading Team will attempt to use OTC trades and/or marketplaces to keep the average costs of the Moon DAO as low as reasonably achievable but by no means higher than the approved average amount in this proposal.

Who: Multi-sig team will be responsible for executing any transactions leaving the FoundersDAO wallet. The Trading Team will be responsible for managing the trading wallet to acquire Moon DAO tokens and manage ETH.

Trading Team members will be compensated with 3 MP2 each.

Where: Trading ETH for Moon DAO tokens will take place in the trading wallet. All Moon DAO token and unused ETH will be transferred from the Trading Wallet to the FoundersDAO wallet at the conclusion of this proposal.

When: Immediately following the approval of this proposal ETH will be transferred from the FoundersDAO wallet to the trading wallet. This proposal will remain in effect until the appropriate amount of Moon DAO tokens are acquired or a duration of 3 months from when this proposal was passed.

POSITIVES

Acquire voting power for all UPDAO proposals.
Increase influence in the UPDAO.
Reap any planet set benefits.

RISKS

Prices may fluctuate outside of the trading team’s control resulting in a potential loss of value over time. Moon DAO token listings are the smallest of all planets and as such price fluctuations could be significant. Acquiring multiple Moon DAO tokens on marketplaces could price the trading team out of their approved price range. No guaranteed ROI.

OVERVIEW

Allocate and Transfer ETH for Moon DAO acquisition and gas to the Trading Team in the Trading Wallet.
The current balance of the FoundersDAO wallet is 127 ETH. The maximum number of planet sets that the FoundersDAO can create with current assets is 48.

Choice #1 will allocate 16 ETH to acquire 10 Moon DAO tokens at an average price of no more than 1.5 ETH. 1 ETH is allocated for gas.

Choice #2 will allocate 36 ETH to acquire 20 Moon DAO tokens at an average price of no more than 1.75 ETH. 1 ETH is allocated for gas.

Choice #3 will allocate 61 ETH to acquire 30 Moon DAO tokens at an average price of no more than 2 ETH. 1 ETH is allocated for gas.

Choice #4 will allocate 98 ETH to acquire 48 Moon DAO tokens at an average price of no more than 2 ETH. 2 ETH is allocated for gas.

Choice #5 Costs nothing, and nothing will happen.

Choice #6 Abstain to vote, but you will be included in the quorum.

VOTING CHOICES

  • Acquire 10 Moon DAO tokens

  • Acquire 20 Moon DAO tokens

  • Acquire 30 Moon DAO tokens

  • Acquire 48 Moon DAO tokens

  • No acquisition, nothing happens

  • Abstain

2 Likes
2

Biggest question before submitting is do we need a trading team or just one individual? And/or if those I listed should be the ones on the trading team (none have responded yay or nay).

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Trading team - 100% yes. They will need to work a few deals to get the moons for good prices. Compensation is fair. I’ve always thought it would be an interesting experiment to give a bonus for meeting a lower average price (example: if trading team gets average purchase price below 1 eth, they get 5 mp2’s each, if above, compensation stays at base of 3 mp2’s)… I also doubt anyone will vote over 20, but I get the reason for having it and it can’t really hurt. Great job again, sir.

3 Likes
5

Incentivizing rewards, very interesting. I’ll think this over.

6

I like the idea of dynamic rewards, but there may need to be a time limit set. There’s nothing to stop the person simply waiting weeks/months for a better price with DAO funds in their wallet, and it puts a lot of faith in their opinion of market conditions. I could definitely see the benefit with the PIP purchases (for example), because you have so much more choice with rarities etc, but with this kind of action it may be better to just market buy the desired number regardless.

1 Like