MutantCats DAO

Should the DAO proceed with the plan proposed Below to eliminate FISH token from the MutantCats DAO and rescue the NFTs in our Vault?

This snapshot is to decide if the Mutant Cats DAO and its BusyGroup Teams should move forward with the plan to eliminate the current fractionalized FISH token from its ecosystem. For more context on this Snapshot and the process being proposed please see our recent announcement here. https://discord.com/channels/894337851762802718/894716961391517696/941529944691986512

Main reasons we are considering this action:

1. The legal ambiguities surrounding the Fractionalized FISH token
2. No sustainable utility for the FISH token
3. No liquidity makes it difficult to trade the token
4. We can not leverage or take advantage of any of the NFTs we have locked in the Vault

Voting yes on this snapshot is approving the following steps:

1. Reverse the previous Snapshot to distribute FISH upon a vault buyout. This is because we are buying the Vault from ourselves.
2. Pause current staking contract FISH emissions and transfer all remaining FISH in that contract to the DAO controlled Mulstisig wallet
3. Use DAO assets to initiate bid on Fractional.art to start vault buyout process. The DAO may need to liquidate some lower value NFTs and/or take a short term loan to ensure a safe and secure buyout process. (All funds and assets will be returned to the DAO once the buyout is complete)
4. Upon successful buyout, all NFTs in the Vault will be transferred immediately to the DAO Gnosis wallet. All DAO owned FISH will be traded back to Fractional for Eth and returned to the DAO wallet. Any remaining FISH in the world could be exchanged to Fractional.art at this time for its real world buyout value.
5. Once all NFT’s and Funds have been secured the BusyGroups will proceed with organizing the raffles. The total value of the raffled NFTs will not exceed 50 eth, some will come from the vault and others will be purchased. Raffle entry tiers will be distributed fairly based on how much FISH you hold.
6. Governance and Value still remains with your MutantCats NFT token.

This proposal additionally reaffirms our commitment to long term value accumulation by continuing to curate a proven, outperforming portfolio of blue chip NFTs and bringing more value to our token holders.