Founders DAO

Sale of Lost Robbie to facilitate acquiring the $GG ticker on Hyperliquid

Author(s): Gilotine Date: 12/23/24

Summary: This proposal seeks approval from the Pixel Vault Founders DAO to transfer for sale the DAO’s Lost Robbie NFT, with a minimum valuation of $570,000 USD after fees. The proceeds would be used to facilitate the purchase of the $GG ticker by Pixel Vault on Hyperliquid. Any remaining funds, or the entire amount if the purchase of the $GG ticker is unsuccessful will be returned to the DAO within 7 business days. If the Hyperliquid ticker purchase is successful, the Reboot Foundation will transfer an amount equalling 1% of $GG supply to the PVFD.

Sale of Lost Robbie: The Lost Robbie NFT will be transferred to a Pixel Vault wallet designated by Gfunk, to be sold at or above a minimum valuation of $570,000 USD. The sale transaction will be completed in a form that is most beneficial to the DAO with a reasonable transaction risk.

2. Use of Proceeds

Primary Allocation: Proceeds will first be used to facilitate the purchase of the $GG ticker on Hyperliquid. Provided this is successful, within 14 business days the Reboot Foundation will transfer an amount equalling 1% of $GG supply (to be determined at the time) to the Founders DAO, use of these funds will be subject to future proposals.

Recent ticker auctions for context:

This indicates that $570,000 would be around the max we could expect to pay in current conditions, with recent sales happening more around the $300,000 mark.

Secondary Allocation: The difference of the sale value and purchase cost of the $GG ticker (or the entire amount if the purchase is unsuccessful) will be returned to the DAO for future use to be determined.

3. Contingency Plan

If the $GG ticker on Hyperliquid is not successfully purchased, all proceeds from the sale of the Lost Robbie will be returned to the Pixel Vault Founders DAO treasury foundersdao.eth

Rationale:

• Acquiring the $GG ticker on Hyperliquid would be a major statement of intent in securing one of only 281 annual listings on the new ‘decentralized binance’ and provide a significant liquidity boost to the token. With other gaming tokens like $GOD and $MON making moves to secure their tickers, we have an opportunity to join them and lead the way for gaming on Hyperliquid.
• It would prevent any other entities acquiring the same ticker, possibly causing confusion and damaging $GG value in future. This also aligns with Pixel Vault’s vision for strengthening its presence and reputation in the Web3 ecosystem.
• Timing seems optimal for securing a ticker at reasonable cost and also having funds leftover for future use
• The sale of the Lost Robbie offers a unique opportunity to generate the necessary capital in one sale to make a move that will get attention in the space and bring more eyes to both PVFD and $GG. As one of the biggest holders of $GG, this aligns both the DAO’s and Pixel Vault’s goals.

Implementation:

1. Wallet Selection Gfunk will designate the Pixel Vault wallet that will handle the sale of the Lost Robbie and the PVFD multi-sig will carry out the initial transfer to this wallet as soon as possible.

2. Sale Process This will be handled by Gfunk/Pixel Vault in the most secure manner.

3. Funds Allocation Proceeds from sale will be used solely for the purchase of the $GG ticker in the most optimal way Gfunk/Pixel Vault see fit, with any remainder returned to the DAO. Gfunk/Pixel Vault will communicate regularly with the DAO and be as transparent as possible throughout the ticker acquisition process.

4. Fallback Mechanism

In the event that the $GG ticker is not acquired, all proceeds will be transferred back to the DAO treasury.

Financial Impact: Minimum $570,000 USD value generated from the sale of Lost Robbie. Potential increase in DAO engagement and treasury value through acquisition of the $GG ticker on Hyperliquid. Potential future benefits for the DAO in being early to the Hyperliquid ecosystem with L1 yet to be launched.

The only cost to the DAO is negligible gas fees to transfer the Lost Robbie to the designated sale wallet.

Vote Options

FOR: Approve the transfer for sale of the Lost Robbie to facilitate the purchase of the $GG ticker on Hyperliquid with all unused funds returned to the DAO afterwards (either the remainder from the ticker purchase or the entire amount if unsuccessful).

AGAINST: Reject the proposal and retain the Lost Robbie, do not attempt to purchase $GG ticker.

Abstain: Sit on our hands and do nothing