Proposal For the Treasury to Start Collecting a Meaningful Stake in Bastard BGAN Punks V2

Currently the Treasury owns 19 bgan NFTs + 31 $BGAN in its NFTX Vault. Having a long term goal to hold and maintain at most 3% stake of the collection shows confidence in its success, and allows the DAO to continue marketing and incentivizing innovation through giveaways in a cost efficient way for the years to come. Owning a large share of the collection will also help stabilize the floor as the DAO won’t be forced to undercut forced sellers, or other whales who are currently selling their Bastards for the first time.

Setting a percentage goal allows the DAO to decide whether to buy/sell, or do more marketing giveaways in order to maintain a 3% claim on the collection. This injects volume into the market and aids in distribution. Having a clear percentage goal is necessary when considering the NFTX rewards, and is probably the only instance in which the DAO would consider selling. So if claiming these rewards sets the treasury over the 3% mark, the DAO may want to distribute the difference back into the market. This redistribution may become a way for the DAO to add more ETH into the Treasury in the future.

And should a malicious vote occur, the DAO would have the votes necessary to successfully veto and over turn an attack. Although this is highly unlikely, as we see other DAOs potentially buying a large quantity of Bastards, this threat becomes more of a reality.

3% of the collection is 340 Bastards, and makes the DAO the largest Bastard whale. A 10 ETH buy with an average cost of 0.15 ETH per bgan ads about 66 to the Treasury. This brings the DAO up to a 1% claim of the collection. But and giving the DAO an extended time frame to make this purchase will help to avoid front-running.

This proposal is for the DAO to commit 10 ETH to start accumulating floor Bastards with a maximum price of 0.15 ETH over the course of the next 90 days.