Summary

This proposal is to establish a valuation methodology for the various classes of Imbued Souls. The chosen valuation methodology will be specific to the theoretical value a given rarity may have at any point in time based on the fluctuating value of the treasury. For the avoidance of doubt, it will not alter the previously voted governance control, where each Imbued Soul is entitled to one (1) vote regardless of class rarity. Additionally, this vote will not provide for an immediate exchange of value from the treasury for a given Imbued Soul, though it may impact the DAO’s approach to valuing Imbued Souls for ongoing events such as, but not limited to, claims, buybacks, events, and other exchanges.

Rationale

Stemming from recent public discussion from community members having an interest in identifying valuation and liquidity paths that align with rarities, the main rationale for this proposal is to establish how the class rarity of an Imbued Soul is valued relative to the treasury amongst the overall collection. While governance voting is equally split, every Imbued Soul gets one vote regardless of rarity, the council assumes some expectation from the community that rarer classes will be more economically valuable relative to less rare classes. This vote codifies the methodology for how that value is established based on rarity.

Proposal

The proposal includes four potential options for the community members of the DAO to choose from, detailed below. Note that the current treasury value should not be assumed as an immediate value that Imbued Souls can be redeemed/exchanged for in any way. This vote will not result in an immediate redemption nor exchange of value from the treasury, nor is any current value guaranteed as part of this vote. There are many factors that may influence the resulting value, such as the circulating supply not controlled by the treasury, fluctuating treasury valuations, distributions through claims and events, and other factors such as an exit cost to both offset negative impact and incentivize value for existing holders. A redemption or exchange mechanism may be created independently from this proposal and is not under contemplation as part of this vote.

The decision is specific to the eight classes associated with the Imbued Soul collection, which correlate to rarities split into four rarity groups or tiers. These include:

Mage/Warrior, the most common and representing 60.09% of the total collection.
Sharpshooter/Priest, less common and representing 24.90% of the total collection.
Paladin/Summoner, more rare and representing 9.67% of the total collection.
Slayer/Asura, rarest and representing 5.34% of the total collection. The rarity percentages are based on the total collection of Imbued Souls and is not adjusted in any way based on circulating supply, thus not adjusted based on the Imbued Souls acquired by the treasury through buybacks to date.

Each option includes a table where all values are held constant except for the highlighted row of “% Treasury Allocated to Tier”. The percentage allocated to each tier is the key decision in this proposal for voting purposes. To reiterate points above, the treasury value is not a current value and is shown for illustrative purposes only, and that factors such as the supply of Imbued Souls held by the DAO will influence the actual value over time.

The council is not recommending a specific option for this vote as it is not focused on operations of the DAO.

Option 1

Intends to balance out the rarities to more closely align toward the values intended to reach 1x/2x/3x/4x across the four rarity classes

Option 2

More top heavy with more value accumulating at higher rarities at the expense of common rarities. Asura/Slayer is valued at ~6x compared to Mage/Warrior.

Option 3

This is most evenly distributed of the three options of the proposals, allocating the a more evenly distributed value across rarities. Asura/Slayer valued less than 3x compared to Mage/Warrior.

Option 4

None of the above – You’d like to see a different option altogether.

Snapshot Block

Snapshot for voters was taken at block 384470515.

Voting Period

The voting period begins now and will end in 3 weeks, on November 4, 2025, at 19:00 UTC.