FIP 49 - Renaissance Labs Partnership+Seed Round
Update / Full Disclosure: Renaissance Labs will take in institutional investments. Frax will always be at or a higher evaluation.
Discussion: https://gov.frax.finance/t/fip-49-renaissance-lab-partnership-seed-round/790
As we will be primarily using Frax to bootstrap our treasury and acquire FXS in the long term, we want to extend our partnership and have FRAX as the first investor outside the community. Frax can start accumulating our governance token, $ART from the very start of our journey. $ART provides the opportunity to earn staking rewards within the protocol (securing a percentage share) and to participate in the DAO’s mission to increase liquidity and price discovery within the NFT marketplace. Alongside the staking rewards, FRAX will be able to participate in the management of the Renaissance Labs’ operations and treasury, including NFT acquisitions and fractionalizations, as well as the regulation of our future products and services such as NFT derivatives and the fNFT-collateralized lending market.
We are offering two options:
$250,000 for 2.5% of the initial tokens $500,000 for 5% of the initial tokens.
The numbers:
$ 250,000 allocation OR $ 500,000 allocation for Frax Protocol $ 23.75/ART (5% discount from the Whitelist sales) $ 10M Fully Diluted Value at launch 1 Year Vesting with quarterly cliffs
Previous Proposal / Background: Previous Proposal: https://gov.frax.finance/t/frax-renaissance/667/24 Website: https://renaissancelab.art/ Twitter: https://twitter.com/NEARenaissance Docs: https://renaissancelabs.gitbook.io/renaissancelabs/the-renaissance/white-paper
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x88E8...0e7a12 | 5.204M | For the allocation of $ 250,000 |
 0x281d...dc7d66 | 67,620 | Do Nothing |
 0xcfCc...B9038b | 64,940 | Do Nothing |
 0x7A7B...734cc5 | 35,964 | Do Nothing |
 0xDC2F...560a18 | 24,611 | Do Nothing |
VOTE POWER
Proposal Status
- Wed February 23 2022, 02:30 amVoting Period Starts
- Sun February 27 2022, 03:00 amEnd Voting Period
Current Results
1-For the allocation of $ 250,000
5.209M
2-Do Nothing
209,419.628
3-For the allocation of $ 500,000
23,876.517