BFIP-08 TreasureDAO Treasury Swap

Summary

BFIP-08 TreasureDAO Treasury Swap is a proposal to transfer 7x Rare Genesis Legions and 2x Special Genesis Legions to TreasureDAO in exchange for 511k gFLY.

Background

BattleFly DAO currently holds a significant number of NFTs from the TreasureDAO ecosystem, including almost 300 Legions and ~1000 Treasures. To date, the consensus has been to continue to hold these NFTs rather than liquidate. This proposal is a mutually beneficial solution that allows both BattleFly DAO and TreasureDAO to divest holdings without negatively impacting the collective community. BattleFly will continue to hold the 1/1 Legion which can be used in future collaborative storytelling within Treasure.

Proposal

Treasury Swap

Transfer 7x Rare Genesis Legions and 2x Special Genesis Legions from the BattleFly DAO Treasury to TreasureDAO Treasury in exchange for 511k gFLY.

gFLY sent from TreasureDAO is to be sent to the BattleFly DAO Treasury multisig: arb1:0xF5411006eEfD66c213d2fd2033a1d340458B7226

Mutual Release as a Condition to the Above Arrangement

In the interest of ensuring this issue is behind both parties as a business (and potential legal matter), the parties will also sign mutual releases as a condition to the outlined arrangement. Any arrangement will be subject to satisfactory signed mutual release.

Rationale

Reasons to Accept:

• Holding more gFLY in the DAO Treasury aligns incentives between the BattleFly DAO members and the DAO’s Treasury.
• The gFLY received from Treasure can fund the ecosystems leaderboards for a period of 6 months.
• As Bridgeworld is evolving, BattleFly DAO is unlikely to benefit economically from holding such a large amount of Legion NFTs.

Reasons to Decline:

• If BattleFly DAO had an opportunity to re-enter the Bridegworld ecosystem at scale, which is unlikely, these Legions could be used for the benefit of the DAO.

Indicative Poll

Accept: BattleFly DAO will exchange 9x Legions for 511k gFLY Decline: BattleFly DAO will keep the Legions.