Crown Capital

After much deliberation and discussion it seems apparent that a Copper ICO makes little to no sense for us.

ICO’s really fulfill two objects; a capital raise and brand awareness. We feel that we have already raised a substantial amount of funds, assets and liquidity and can continue to do so via the seed round as well as via direct investment from institutions. Copper themselves have stated that P2E ICOs on their platform are not doing well or just waiting.

As for brand awareness we now have a very valuable tool in the form of Fat Cats & Dylan Shub’s status as a WGMI Podcast host and influencer and so we have ways to get our name out there. Once the games open we of course will have even more branding opportunities as all of our players will represent us. We have seen this with large Axie guilds.

We propose to head directly to applying for a Bancor Liquidity pool. V3 of their pool is scheduled to go live in the next 4-6 weeks and so we will work to get pre approved now. We are already in late discussions with them about this.

Bancor offers impermeant loss insurance to project those who put their funds in the pool and to this end require that we give them 400-500k of CROWN to lock up in case of insurance needs. They are open to us being able to give them six month notice of removal within six month (so a year lock up) if we should ever desire to move to another liquidity platform.

With Bancor you will not ever need to stake anything but CROWN tokens aka they have solved the two sided liquidity pool riddle and this gives us all a massive advantage of being able to still earn fees and CROWN rewards without the risk of impermeant loss. It will also allow the DAO to use much more of our current liquidity to purchase more gaming assets. The rest of our liquidity aka the USDC can be staked as well to earn fees.

The Board of governors also ask the DAO to approve the right for us to continue to sell CROWN directly to institutional investors but at no less then the current floor price on the Bancor LP. This will allow us to raise funds like we would have during the ICO but without causing major spikes in the market or undercutting current holders. We have a number of funds interested in what we are doing.

FOR: If you are pro us skipping the ICO and moving to the Bancor Liquidity pool as fast as they can onboard us please vote for.

AGAINST: If you would like us to proceed to the ICO please vote against.

ABSTAIN: If you would like us to just wait and see please vote abstain.