This proposal is to approve 12 ETH from the DAO for the development of a DAO-run airdrop of a fungible community token.
12 ETH
- The airdrop will cost roughly 3 ETH to deliver to all holders based on the method used for the recent surprise airdrop. Maybe there are other options available and we can get this number down.
- Then 5-7 ETH can be used to provide liquidity as outlined in the below proposal for the surprise airdrop. This number may be way too low depending on the hype built around the drop. Larger more hyped airdrops start with much more liquidity than this. https://snapshot.org/#/bgansv2.eth/proposal/0xcde7dc3645095282bef583758875e7d58f4bd9c9d0e306580d02a553bb97d7f3
- 2-4 ETH can be deployed to pay for marketing help / development and execution of the drop as well as development planning post airdrop.
Advantages of re-releasing a DAO paid for and organized $BASTARD token instead of adopting the surprise airdrop.
- The rumor-hype buy period is an interesting way to draw more people to the collection, which can have both good short-term and long-term impacts on the project. People who want to qualify for the drop finally have the excuse they were looking for to buy some more bgans.
- Community can figure out how they want to distribute the tokens instead of using the model applied the surprise token. Things like rewarding some allotment for bgan v1s, glicpix v1s, and glicpix v2s is possible. Other questions like capping a maximum number of tokens for whale wallets is something other projects have deployed and I'm sure the community would have some rich dialogue around that idea.
Some risks
- Rumor-hype collectors are often flippers && dumpers. Attracting more speculators comes with the downside of lots of downward pressure once the promise of X has been delivered. There needs to be a persisting vision of the future if we want to apply the rumor-hype game.
- It costs more ETH to deploy this than to adopt the existing $BASTARD.
- The DAO may not be prepared to provide sufficient liquidity for a hyped-up Airdrop and a hyped-up DAO-run airdrop could potentially be more harmful than adopting a no-hype airdrop.
- No official fungible token could be the best play for this DAO/collection.