Proposal Template

Synopsis

Re-proposing JBP-307 since it can no longer be executed, despite passing. Please re-read it first, i’ll share updates in this proposal.

Motivation

After this past proposal passed, we delayed launching because we felt the Blunt application needed to be scoped down to a single user journey:

1. Deploy a project with a funding goal, an optional funding cap, and an optional deadline.
2. People can contribute to your project, and get refunds at any time until the goal is reached. 
3. If the goal is not reached, the project dissolves and funders can access their funds.

If the project does succeed, its ownership is passed on to an address specified when the project was deployed, who can then create new cycles for it.

This is modeled using Juicebox funding cycles with a custom project owner, pay delegate, and redeem delegate.

We also added a community growth model. For successful projects, a membership fee is taken into the Blunt juicebox treasury, which issues BLUNT tokens back out to the project owner. The fee is 3.5% if the raise is less than $100k, and linearly decreases to 1.5% as the raise approaches $20M.

**Blunt’s treasury **

0 Payouts
0 Discount rate
100% Redemptions
30 days cycles with 3-day delay

1m BLUNT / ETH
30% Reserved**
-> 12% to the Blunt Governor
9% to M2E (jacopo)  
6% to JBDAO
3% to Peel

There also been a premint of 30,000,000 BLUNT for jacopo, and 10,000,000 BLUNT for Jango.

BLUNT Governor

66% quorum
7 day voting delay, meaning voting for a proposal starts 7 days after it has been submitted.
7 day voting period, meaning proposals have 7 days to reach quorum from the day voting starts.

Specification

Send $35k worth of ETH to the Blunt project, which will be created by Saturday April 15, 2023.

Rationale

Easy and transparent

Risks

Blunt will likely not work.

Timeline

Next cycle

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