Change the mint model for the PFVD PFP to an auction style similar to nouns DAO. Each day there will be an auction for a Heist PFP. All of the ETH raised from the auction will go into the foundersDAO.eth wallet. Every 10th auction will randomly mint to a holder of the PVFD token.
(Secondary royalty revenue will still be split 50/50).
Minters must hold a founders DAO token to place a bid.
After 5902 have been auctions have completed, the only way to buy a pfp will be on secondary.
Having an auction style where all ETH raised goes into the DAO gives us more funding towards PVFD initiates.
Requiring bidders to have a PVFD token to place a bid, gives more utility to the token. While the market for this this project may be beyond the founder’s DAO, it is primarily for the founder’s DAO members. Everyone else can get on secondary if they don’t own one. This encourages secondary trading which means more royalties.
Minting slow over a long period over time shows that we are here to build something and not just saturate the market with thousands of more jpgs.
this goes against the whole point of the pfp, which was to reward pvfd holders as a nice gift from Odious and give us something to use as a pfp seeing as the fvck design doesn’t really lend itself to that. I can’t see much support for making us pay for something else at this point + it was never intended to be revenue-generating. It being Odious alone should help with sales and if pvfd holders paperhand it or dump the floor, that’s on us isn’t it
I’m afraid this would leave most of the PFPs to be gobbled up by whales.
Thanks for making the proposal. I agree that the treasury should have more ETH, but what is the point of raising money?
here to build something
This proposal doesn’t add any clarity on what to build. Maybe instead ask people to donate their Heist PFP to then be auctioned.
I loath what the Nouns are doing. Mint this insanely expensive NFT, do weird things with the funds. I thought it was meant to be a public goods project in the spirit Vitalik, but so far it’s not.
The pfp is a gift from Odious to all PFVD members, having us pay for it takes that away. You’d be free to auction yours away after the mint, but having us buy the pfp defeats the intention.
I love idea in the sense of a cool way to innovate on tokenomics, build wealth for the dao etc. However I think at this point in the market most members just want a token of their loyalty, not fund anymore bags even if it is our own vault. I think keeping it simple is best. Whales will always win, but this way small fry also get a look in. As has been mentioned already in this thread, although an interesting concept it doesnt really address; What are we building wealth for? and how do we continue to support small capital longterm holders?
Everyone who holds a PVFD benefits from this. The current problem with the DAO is we have almost 0 ETH aside from illiquid jpg holdings and $APE. Based on the floor value of the PVFD we should have 5.9K ETH in holdings. Otherwise it is massively over valued even if all our assets did sell. While pixel vault is building out for the long term and will reward the founders, we can also take our own initiatives to raise ETH to be able to build the validator node that already passed on snapshot. We do not currently have the ETH for this. Additionally, if we lottery off every 10th Heist NFT, some token holders will still get it free. This is a unique minting structure that has never been done before and could change the game. Rather than just another ~10k mint…
I respect that it’s a gift, but it’s also labeled as being a DAO project.
There isn’t much direction currently which is why someone posted a “steering committee” proposal. What we are building is support for the PV ecosystem. However just pumping thousands of more PV related NFTs just dilutes the ecosystem. Let’s do something different. I disagree and think nouns is a cool concept and very unique to the space. They are a CC0 project even so all the “whales” own is voting power in their DAO. The public owns the actual “art”.
What about auction only those left after free claim. TBH i just want a Odious PFP and I am a poor so competing against whales and more endowed members is a nightmare senario to me. If you can see around this I would support this.
I think just because there isn’t a feelling of direction isn so bad, we need to work toward a good structure slowly or we end up with Narcissus’s in charge and a Beanie situation again.
I think one auction a day helps build direction and gives the entire community something to look forward to the next day for several years. As for being able to get something free. If we build mechanisms in the DAO where people can get rewarded for their work you could earn rather than a hand out. @pixelhax
I see that you’re trying to give PVFD utility, but we already have that utility. We’re already getting the pfp.
I would be more in favour of an auction for any remaining in the collection after free ones have been claimed, but not to change the free mint to paid for PVFD holders. That way the extra utility for holders is a free Odius pfp.
That might be a good solution too, to have the unclaimed be auctioned for the DAO wallet.
The current problem with the DAO is we have almost 0 ETH aside from illiquid jpg holdings and $APE.
if we want more liquidity why not selling one mutant and one ape or opening a safe loan on bendDAO?
point is, why do we want liquidity for?
I think there are some purpose points to be decided and aligned first
This proposal is not the best for the PFP project, 5902 PFPs with one auction per day would take years to finish
the model can work for other things but this is not the correct application in my opinion
What is wrong with it taking years? Those that are here to build the DAO aren’t planning on going anywhere. I just want the DAO to be more involved in the project’s development process. I don’t want this to just be another PFP in a market like this. It appears like another ponzi to the uninitiated, especially when the project is called heist… not good when all the revenue will come from secondary market.
Plus, the benefit of doing an auction a day for years means the market cycle will constantly fluctuate and we will be there every day of it!
This goes against the original intent to reward holders. I know we need to build the treasury but many of us have contributed to the ecosystem through endless mints and secondary buys to complete ‘sets’ where we got gassed out by whales. If the DAO needs liquidity to expand/build then lets here the expansion/build ideas and if they stack up and holders have conviction then liquidate some existing assets to fund.
I’m against this for the Odious PFPs but agree in the direction of trying to raise money for the DAO.