Dopewars

GM Hustlers!

This proposal aims to strengthen our project and treasury by opportunistically buy on the secondary market Dope NFTs offered at close to the treasury risk-free valuation.

As a reminder, there are 8,000 Dope NFTs in existence, and each of them has a claim on 1/8,000th of the treasury assets if we were to dissolve the DAO.

The value (as October 17th) of the treasury when only considering non-native tokens (i.e. ETH, WETH and OP) is about $335k, or ~208 ETH.

1/8000th of 208 ETH is 0.026 ETH.

There are currently several DOPE NFTs offered in the secondary market at or below 0.03 ETH, implying a total valuation which is very close to the CURRENT non native treasury valuation.

This proposal seeks to set aside a max of 3 ETH for the purchase of DOPE NFTs priced at 0.03 ETH or below. This has multiple benefits:

1. defending a floor price in line with the current treasury valuation;

2. strengthening the treasury by acquiring cheap assets that can be used in the future for giveaways, marketing, or simply for reselling for ETH profits;

3. getting rid of holders who do not believe in the project anymore or who are not keeping track of our recent progress

In practice, if this proposal were to pass, we would transfer 3 ETH from the treasury to a newly created 2/4 multisig address (0xCcba06eC12D5d5dEe30245e1B24E5c4E840a1F1D), whose signers are Slasha, sal paradise, mazzi and sprtn. These hustlers have freedom to execute on the mandate of this proposal, as they see fit. This is to prevent clear front running from other parties.